Texas Capital Bank Wealth Management Services Inc Trims Stock Position in Deere & Company $DE

Texas Capital Bank Wealth Management Services Inc lowered its stake in shares of Deere & Company (NYSE:DE) by 3.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 25,179 shares of the industrial products company’s stock after selling 950 shares during the period. Deere & Company comprises about 1.2% of Texas Capital Bank Wealth Management Services Inc’s investment portfolio, making the stock its 13th biggest position. Texas Capital Bank Wealth Management Services Inc’s holdings in Deere & Company were worth $11,818,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after acquiring an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Northern Trust Corp grew its position in shares of Deere & Company by 12.8% during the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company’s stock valued at $1,235,394,000 after acquiring an additional 330,915 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Deere & Company by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company’s stock valued at $754,500,000 after acquiring an additional 48,941 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of a number of analyst reports. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Robert W. Baird dropped their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their target price on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Oppenheimer lifted their price objective on Deere & Company from $560.00 to $566.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Evercore ISI boosted their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $524.00.

Deere & Company Price Performance

DE stock opened at $490.83 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The business has a 50 day simple moving average of $510.56 and a 200-day simple moving average of $490.14. The firm has a market capitalization of $132.93 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06. Deere & Company has a 1 year low of $371.76 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the business earned $6.29 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were issued a $1.62 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company’s dividend payout ratio is currently 33.87%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.