Northcape Wealth Management LLC Has $2.79 Million Stock Holdings in Deere & Company (NYSE:DE)

Northcape Wealth Management LLC boosted its position in Deere & Company (NYSE:DE) by 16.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,463 shares of the industrial products company’s stock after acquiring an additional 1,073 shares during the period. Northcape Wealth Management LLC’s holdings in Deere & Company were worth $2,788,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DE. International Assets Investment Management LLC lifted its stake in shares of Deere & Company by 15.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after buying an additional 288 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $461,000. South Dakota Investment Council boosted its position in shares of Deere & Company by 16.6% during the fourth quarter. South Dakota Investment Council now owns 9,127 shares of the industrial products company’s stock valued at $3,650,000 after buying an additional 1,300 shares during the last quarter. Bfsg LLC bought a new stake in Deere & Company during the fourth quarter worth $30,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Deere & Company by 2.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,166 shares of the industrial products company’s stock valued at $2,466,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock traded up $4.59 during trading hours on Friday, reaching $381.18. The stock had a trading volume of 1,197,519 shares, compared to its average volume of 1,540,044. The stock’s fifty day simple moving average is $367.88 and its 200 day simple moving average is $379.93. The firm has a market capitalization of $105.04 billion, a PE ratio of 11.47, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $423.35. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned $10.20 EPS. On average, equities research analysts predict that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were issued a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. Deere & Company’s payout ratio is currently 17.70%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. TD Cowen upped their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $415.50.

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.