Court Place Advisors LLC Has $1.50 Million Stock Holdings in Deere & Company (NYSE:DE)

by · The Markets Daily

Court Place Advisors LLC lowered its stake in shares of Deere & Company (NYSE:DE – Free Report) by 10.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,593 shares of the industrial products company’s stock after selling 400 shares during the period. Court Place Advisors LLC’s holdings in Deere & Company were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tandem Capital Management Corp ADV bought a new stake in Deere & Company during the 3rd quarter valued at $1,288,000. Silver Oak Securities Incorporated increased its position in shares of Deere & Company by 10.2% during the third quarter. Silver Oak Securities Incorporated now owns 963 shares of the industrial products company’s stock worth $402,000 after acquiring an additional 89 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in shares of Deere & Company by 1.4% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 28,005 shares of the industrial products company’s stock worth $11,687,000 after acquiring an additional 390 shares during the last quarter. Tectonic Advisors LLC acquired a new stake in shares of Deere & Company in the 3rd quarter worth about $484,000. Finally, DT Investment Partners LLC boosted its stake in Deere & Company by 16.5% during the 3rd quarter. DT Investment Partners LLC now owns 466 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Truist Financial boosted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Citigroup lifted their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $420.69.

Read Our Latest Stock Report on Deere & Company

Deere & Company Price Performance

DE traded up $2.56 during trading on Friday, reaching $413.63. 63,026 shares of the company were exchanged, compared to its average volume of 1,451,234. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company’s 50-day moving average is $396.54 and its two-hundred day moving average is $385.38. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $113.98 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $10.20 earnings per share. Research analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.42%. Deere & Company’s payout ratio is currently 17.70%.

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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