Bartlett & CO. Wealth Management LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

Bartlett & CO. Wealth Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 0.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,753 shares of the industrial products company’s stock after selling 214 shares during the period. Deere & Company comprises about 1.3% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Bartlett & CO. Wealth Management LLC’s holdings in Deere & Company were worth $86,660,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its stake in Deere & Company by 5.9% in the second quarter. Thrivent Financial for Lutherans now owns 31,298 shares of the industrial products company’s stock worth $11,694,000 after acquiring an additional 1,740 shares during the period. DRW Securities LLC bought a new position in Deere & Company in the 2nd quarter worth $234,000. Public Sector Pension Investment Board lifted its position in shares of Deere & Company by 80.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 9,171 shares of the industrial products company’s stock worth $3,427,000 after purchasing an additional 4,091 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of Deere & Company by 10.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,537 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 142 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Deere & Company by 59.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,653 shares of the industrial products company’s stock valued at $18,925,000 after buying an additional 18,789 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DE. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup lowered their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Price Performance

Shares of DE opened at $459.55 on Thursday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a market capitalization of $125.16 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.98. The firm has a 50 day moving average of $433.94 and a 200 day moving average of $403.91. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the company earned $8.26 EPS. As a group, equities research analysts anticipate that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.41%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Deere & Company Profile

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.