Texas Capital Bank Wealth Management Services Inc Boosts Stock Holdings in Deere & Company (NYSE:DE)

Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Deere & Company (NYSE:DE) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,033 shares of the industrial products company’s stock after buying an additional 53 shares during the quarter. Deere & Company accounts for approximately 1.1% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 18th largest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in Deere & Company were worth $10,864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after purchasing an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Stockbridge Partners LLC raised its stake in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares in the last quarter. Finally, Mawer Investment Management Ltd. purchased a new stake in Deere & Company in the second quarter worth about $166,937,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Morgan Stanley lifted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $436.41.

Deere & Company Stock Performance

Deere & Company stock opened at $448.17 on Friday. The company’s 50-day moving average price is $417.01 and its 200-day moving average price is $389.92. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market cap of $122.62 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39.

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, beating analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the business posted $8.26 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.45%. This is an increase 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 22.97%.

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.