Northcape Wealth Management LLC Sells 630 Shares of Deere & Company (NYSE:DE)

Northcape Wealth Management LLC trimmed its position in Deere & Company (NYSE:DE) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,930 shares of the industrial products company’s stock after selling 630 shares during the quarter. Northcape Wealth Management LLC’s holdings in Deere & Company were worth $2,936,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in DE. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth $35,000. Finally, Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 4.4 %

NYSE:DE opened at $501.40 on Wednesday. The company has a market cap of $136.56 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $502.10. The business has a 50 day moving average price of $448.71 and a two-hundred day moving average price of $418.73. 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 (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. As a group, analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group lifted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer upped their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Finally, Truist Financial restated a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $450.12.

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.