Cerity Partners LLC Buys 7,338 Shares of Deere & Company $DE

Cerity Partners LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 4.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 165,800 shares of the industrial products company’s stock after buying an additional 7,338 shares during the period. Cerity Partners LLC’s holdings in Deere & Company were worth $77,196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DE. Cerro Pacific Wealth Advisors LLC lifted its holdings in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. Root Financial Partners LLC raised its stake in Deere & Company by 2.2% in the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 19 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Deere & Company by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 20 shares during the last quarter. Finally, Family Legacy Inc. raised its stake in Deere & Company by 0.3% in the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock worth $3,675,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.8%

Shares of 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 quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The business’s 50 day moving average is $572.93 and its two-hundred day moving average is $547.52.

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 analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the company earned $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts predict that Deere & Company will post 18.1 EPS for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

DE has been the subject of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. DA Davidson cut their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Citigroup lowered their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Morgan Stanley boosted their target price on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, Argus boosted their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & 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.