North Dallas Bank & Trust Co. Takes $986,000 Position in Deere & Company $DE

North Dallas Bank & Trust Co. bought a new stake in Deere & Company (NYSE:DE) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,117 shares of the industrial products company’s stock, valued at approximately $986,000.

Several other hedge funds have also made changes to their positions in the stock. Focus Partners Advisor Solutions LLC lifted its stake in shares of Deere & Company by 904.8% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 7,807 shares of the industrial products company’s stock valued at $3,635,000 after buying an additional 7,030 shares during the period. TIAA Trust National Association lifted its stake in shares of Deere & Company by 1.7% in the fourth quarter. TIAA Trust National Association now owns 14,963 shares of the industrial products company’s stock valued at $6,966,000 after buying an additional 254 shares during the period. Montis Financial LLC lifted its stake in shares of Deere & Company by 7.7% in the fourth quarter. Montis Financial LLC now owns 2,795 shares of the industrial products company’s stock valued at $1,301,000 after buying an additional 200 shares during the period. Cerity Partners LLC lifted its stake in shares of Deere & Company by 4.6% in the fourth quarter. Cerity Partners LLC now owns 165,800 shares of the industrial products company’s stock valued at $77,196,000 after buying an additional 7,338 shares during the period. Finally, LPL Financial LLC lifted its stake in Deere & Company by 2.3% during the fourth quarter. LPL Financial LLC now owns 451,163 shares of the industrial products company’s stock worth $210,048,000 after purchasing an additional 10,203 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DE. Citigroup cut their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Barclays raised their price target on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Bank of America cut their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Argus raised their price target on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Stock Performance

NYSE DE opened at $578.07 on Wednesday. The firm has a market cap of $156.04 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 2.13 and a beta of 0.92. The company has a 50 day moving average of $572.93 and a 200-day moving average of $547.52. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $6.64 earnings per share. On average, equities analysts forecast that Deere & Company will post 18.1 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.