Everence Capital Management Inc. Purchases 7,300 Shares of Deere & Company (NYSE:DE)

Everence Capital Management Inc. raised its position in Deere & Company (NYSE:DE) by 148.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,223 shares of the industrial products company’s stock after purchasing an additional 7,300 shares during the period. Everence Capital Management Inc.’s holdings in Deere & Company were worth $5,179,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Modus Advisors LLC purchased a new position in Deere & Company during the fourth quarter worth about $32,000. GAMMA Investing LLC boosted its position in shares of Deere & Company by 24.8% during the 4th quarter. GAMMA Investing LLC now owns 2,859 shares of the industrial products company’s stock valued at $1,211,000 after acquiring an additional 569 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Deere & Company by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 257 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 67 shares during the last quarter. 1ST Source Bank grew its holdings in shares of Deere & Company by 1.7% during the third quarter. 1ST Source Bank now owns 6,549 shares of the industrial products company’s stock worth $2,733,000 after purchasing an additional 112 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Deere & Company in the third quarter valued at approximately $3,631,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group boosted their price target 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. Citigroup increased their target price on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer boosted 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. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $443.94.

Deere & Company Trading Up 0.4 %

NYSE:DE traded up $1.65 during mid-day trading on Friday, reaching $419.83. 227,873 shares of the company’s stock traded hands, compared to its average volume of 604,233. The company has a 50 day moving average price of $427.09 and a 200-day moving average price of $398.30. The firm has a market capitalization of $114.02 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.91 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the firm earned $8.26 earnings per share. The business’s revenue was down 32.8% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.54%. Deere & Company’s dividend payout ratio is 25.31%.

Deere & 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.