Cerity Partners LLC Grows Stock Holdings in Deere & Company (NYSE:DE)

Cerity Partners LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,274 shares of the industrial products company’s stock after purchasing an additional 5,948 shares during the quarter. Cerity Partners LLC’s holdings in Deere & Company were worth $48,110,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pineridge Advisors LLC raised its stake in 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 in the last quarter. Fairscale Capital LLC purchased a new stake in Deere & Company during the second quarter valued at $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter valued at $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company during the second quarter valued at $37,000. Finally, Centennial Bank AR raised its stake in 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 in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DE shares. Truist Financial increased their target price on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Citigroup increased their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer increased their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $431.61.

Deere & Company Stock Up 2.1 %

Shares of Deere & Company stock opened at $446.65 on Friday. 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 has a 1 year low of $340.20 and a 1 year high of $447.50. The firm’s 50-day moving average is $406.99 and its two-hundred day moving average is $386.36. The stock has a market cap of $122.20 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (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 company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the business earned $8.26 EPS. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 22.97%.

Deere & Company Company Profile

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.