Northcape Wealth Management LLC Increases Stock Position in Deere & Company (NYSE:DE)

Northcape Wealth Management LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,560 shares of the industrial products company’s stock after purchasing an additional 97 shares during the period. Northcape Wealth Management LLC’s holdings in Deere & Company were worth $3,155,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of DE. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter worth $26,000. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 3rd quarter worth about $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR raised its stake in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DE shares. Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Oppenheimer lowered their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Citigroup raised their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

DE opened at $398.95 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a 50 day moving average of $404.03 and a two-hundred day moving average of $385.69. The company has a market cap of $109.15 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company earned $10.20 EPS. The firm’s revenue was down 20.3% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.