CIBC Private Wealth Group LLC Has $15.60 Million Stock Position in Deere & Company (NYSE:DE)

CIBC Private Wealth Group LLC lessened its position in Deere & Company (NYSE:DEFree Report) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,012 shares of the industrial products company’s stock after selling 626 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Deere & Company were worth $15,599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Essex Savings Bank lifted its position in shares of Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares in the last quarter. Valley National Advisers Inc. grew its holdings in Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Deere & Company by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after acquiring an additional 27 shares during the period. Simplicity Solutions LLC lifted its position in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after acquiring an additional 27 shares during the last quarter. Finally, Blue Chip Partners LLC boosted its holdings in Deere & Company by 2.3% during the fourth quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock valued at $489,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $370.99 on Thursday. The business has a 50 day simple moving average of $395.51 and a 200 day simple moving average of $386.23. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The company has a market capitalization of $102.23 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. Deere & Company has a one year low of $353.15 and a one year high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period last year, the business earned $9.65 earnings per share. The business’s revenue was down 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 25.73 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analyst Ratings Changes

DE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Evercore ISI lifted their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Citigroup reduced their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Morgan Stanley raised their price objective on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, Daiwa Capital Markets upped their target price on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $433.36.

Check Out Our Latest Research Report on DE

Deere & Company Profile

(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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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