Cerity Partners LLC Raises Position in Deere & Company (NYSE:DE)

Cerity Partners LLC grew its position in Deere & Company (NYSE:DE) by 5.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 115,274 shares of the industrial products company’s stock after buying an additional 5,948 shares during the period. Cerity Partners LLC’s holdings in Deere & Company were worth $48,110,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC raised its holdings 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 purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the third quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $37,000. Finally, Centennial Bank AR raised its holdings in shares of Deere & Company by 420.0% during the second 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 owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $446.65 on Friday. The firm has a market cap of $122.20 billion, a P/E ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $447.50. The company has a 50 day simple moving average of $406.99 and a two-hundred day simple moving average of $386.36. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the firm earned $8.26 earnings per share. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 21.41 earnings per share for the current fiscal 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 issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Analyst Ratings Changes

Several research firms have recently weighed in on DE. Evercore ISI boosted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer boosted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial boosted their target price on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday. Finally, BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $431.61.

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.