Everence Capital Management Inc. Has $4.12 Million Stake in Deere & Company (NYSE:DE)

Everence Capital Management Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,293 shares of the industrial products company’s stock after purchasing an additional 1,300 shares during the quarter. Everence Capital Management Inc.’s holdings in Deere & Company were worth $4,116,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. RB Capital Management LLC lifted its stake in Deere & Company by 5.2% in the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after acquiring an additional 81 shares during the last quarter. Bornite Capital Management LP acquired a new stake in Deere & Company in the first quarter valued at $14,541,000. Retirement Income Solutions Inc acquired a new stake in Deere & Company in the first quarter valued at $229,000. Sequoia Financial Advisors LLC lifted its stake in Deere & Company by 27.1% in the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after acquiring an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Deere & Company by 32.4% in the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after acquiring an additional 27,985 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DE. Citigroup cut their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Wells Fargo & Company cut their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Morgan Stanley started coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Finally, Stifel Nicolaus cut their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Down 0.2 %

Shares of Deere & Company stock traded down $0.79 during trading hours on Tuesday, reaching $393.01. The company’s stock had a trading volume of 1,862,570 shares, compared to its average volume of 1,501,130. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a market capitalization of $109.40 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.49 and a beta of 1.04. The stock’s fifty day simple moving average is $384.87 and its two-hundred day simple moving average is $382.45. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the firm earned $6.55 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.50%. Deere & Company’s payout ratio is 17.12%.

Deere & Company Profile

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.