BTC Capital Management Inc. Has $8.92 Million Position in Deere & Company (NYSE:DE)

BTC Capital Management Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,098 shares of the industrial products company’s stock after selling 324 shares during the quarter. BTC Capital Management Inc.’s holdings in Deere & Company were worth $8,922,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $32,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $35,000. Continuum Advisory LLC grew its position in shares of 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. Finally, Darwin Wealth Management LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at approximately $47,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on DE shares. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. UBS Group increased 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. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup decreased their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $444.50.

Deere & Company Price Performance

Deere & Company stock opened at $479.91 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $130.70 billion, a PE ratio of 18.75, a P/E/G ratio of 2.95 and a beta of 0.98. The stock has a 50-day moving average price of $444.09 and a two-hundred day moving average price of $409.10.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the company earned $8.26 earnings per share. The firm’s revenue was down 32.8% compared to the same quarter last year. Analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

About Deere & Company

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.