Northcape Wealth Management LLC Has $2.94 Million Stock Position in Deere & Company (NYSE:DE)

Northcape Wealth Management LLC cut its position in Deere & Company (NYSE:DE) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,930 shares of the industrial products company’s stock after selling 630 shares during the quarter. Northcape Wealth Management LLC’s holdings in Deere & Company were worth $2,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pineridge Advisors LLC increased its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership bought a new position in Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC boosted its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 4.4 %

Shares of DE opened at $501.40 on Wednesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company has a market cap of $136.56 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.87 and a beta of 0.98. The stock has a fifty day moving average price of $448.71 and a two-hundred day moving average price of $418.73. Deere & Company has a 52-week low of $340.20 and a 52-week high of $502.10.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Analysts predict that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Analyst Upgrades and Downgrades

DE has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $450.12.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.