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

BTC Capital Management Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,098 shares of the industrial products company’s stock after selling 324 shares during the period. BTC Capital Management Inc.’s holdings in Deere & Company were worth $8,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new position in Deere & Company during the third quarter valued at approximately $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $32,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $35,000. Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company in the third quarter worth $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $479.91 on Friday. The stock has a 50-day simple moving average of $444.09 and a 200 day simple moving average of $409.10. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The stock has a market capitalization of $130.70 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 2.95 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the business posted $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DE. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Citigroup lowered their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley lifted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Barclays lifted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $444.50.

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.