Rockefeller Capital Management L.P. grew its holdings in Deere & Company (NYSE:DE – Free Report) by 24.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 97,306 shares of the industrial products company’s stock after buying an additional 18,830 shares during the period. Rockefeller Capital Management L.P.’s holdings in Deere & Company were worth $45,304,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Cerro Pacific Wealth Advisors LLC raised its position in shares of Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares in the last quarter. Root Financial Partners LLC increased its stake in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 19 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Deere & Company by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock worth $360,000 after buying an additional 20 shares during the last quarter. Finally, Family Legacy Inc. raised its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock worth $3,675,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on DE shares. Wolfe Research boosted their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Robert W. Baird reduced their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. DA Davidson lowered their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Morgan Stanley increased their price objective on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $639.58.
Deere & Company Stock Up 0.2%
DE stock opened at $590.37 on Friday. The firm’s fifty day simple moving average is $573.71 and its 200-day simple moving average is $552.66. The company has a market capitalization of $159.36 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.
Deere & Company (NYSE:DE – Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter last year, the company posted $6.64 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.
Deere & Company Company Profile
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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