June 19, 2024
1832 Asset Management L.P. Trims Holdings in Deere & Company (NYSE:DE)



Evercore Wealth Management LLC lowered its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 69.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,286 shares of the industrial products company’s stock after selling 5,172 shares during the quarter. Evercore Wealth Management LLC’s holdings in Deere & Company were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new position in Deere & Company in the 4th quarter worth about $28,000. Naples Money Management LLC purchased a new position in Deere & Company in the 4th quarter worth about $29,000. Private Wealth Management Group LLC purchased a new position in Deere & Company during the 4th quarter valued at about $29,000. Finally, Bfsg LLC purchased a new position in Deere & Company during the 4th quarter valued at about $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $368.58 on Monday. The firm has a market cap of $101.57 billion, a PE ratio of 11.10, a PEG ratio of 1.47 and a beta of 0.98. The firm has a fifty day moving average of $393.88 and a 200 day moving average of $386.18. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a one year low of $353.15 and a one year high of $450.00.

Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.65 EPS. As a group, research analysts predict that Deere & Company will post 25.73 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.60%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

DE has been the topic of a number of research reports. DA Davidson cut their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Stifel Nicolaus lifted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Oppenheimer reissued an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Daiwa Capital Markets raised their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Finally, Citigroup reduced their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $433.36.

View Our Latest Report on Deere & Company

About Deere & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)



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