NorthCrest Asset Manangement LLC Has $24.11 Million Stake in Deere & Company (NYSE:DE)

NorthCrest Asset Manangement LLC raised its position in shares of Deere & Company (NYSE:DE) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,362 shares of the industrial products company’s stock after buying an additional 792 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Deere & Company were worth $24,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DE. Banque Pictet & Cie SA lifted its holdings in Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after buying an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC lifted its holdings in Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after buying an additional 1,407 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Deere & Company during the 4th quarter worth $847,000. BankPlus Trust Department acquired a new position in Deere & Company during the 4th quarter worth $1,127,000. Finally, Stenger Family Office LLC acquired a new position in Deere & Company during the 4th quarter worth $3,144,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Oppenheimer upped their price objective on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Robert W. Baird upped their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Evercore ISI raised their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $515.19.

Deere & Company Stock Down 0.7%

Shares of DE stock opened at $517.01 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The firm’s fifty day moving average price is $485.29 and its two-hundred day moving average price is $468.18. The firm has a market capitalization of $140.02 billion, a P/E ratio of 22.92, a PEG ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company’s revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.53 EPS. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio is presently 31.35%.

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.