Centric Wealth Management Boosts Holdings in Deere & Company (NYSE:DE)

Centric Wealth Management grew its position in shares of Deere & Company (NYSE:DE) by 9.9% in the fourth quarter, Holdings Channel reports. The firm owned 7,687 shares of the industrial products company’s stock after purchasing an additional 691 shares during the period. Deere & Company comprises approximately 1.0% of Centric Wealth Management’s holdings, making the stock its 28th biggest position. Centric Wealth Management’s holdings in Deere & Company were worth $2,967,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in Deere & Company in the third quarter worth $25,000. ZRC Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company in the 4th quarter worth about $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at about $29,000. Finally, Bfsg LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $30,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DE. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Evercore ISI upped their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Stifel Nicolaus cut their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company lowered their price objective 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. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Up 0.0 %

Shares of DE stock traded up $0.03 during trading hours on Wednesday, hitting $405.60. 382,366 shares of the company’s stock traded hands, compared to its average volume of 1,448,995. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The stock’s fifty day simple moving average is $393.13 and its two-hundred day simple moving average is $384.23. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The stock has a market cap of $112.90 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $6.55 earnings per share. On average, analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 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.