Cerity Partners LLC Grows Stock Position in Deere & Company $DE

Key Points

• Cerity Partners LLC increased its Deere & Company stake by 4.6% in the fourth quarter, buying 7,338 more shares and bringing its holding to 165,800 shares worth about $77.2 million.
• Deere reported stronger-than-expected quarterly results, with EPS of $6.55 versus the $5.70 estimate and revenue of $13.37 billion, up 5.4% from a year earlier.
• The company also announced a quarterly dividend of $1.62 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $639.58.

Cerity Partners LLC boosted its position in Deere & Company (NYSE:DE - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,800 shares of the industrial products company's stock after buying an additional 7,338 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Deere & Company worth $77,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. LPL Financial LLC increased its position in Deere & Company by 2.3% in the fourth quarter. LPL Financial LLC now owns 451,163 shares of the industrial products company's stock worth $210,048,000 after buying an additional 10,203 shares during the last quarter. Manchester Capital Management LLC increased its position in Deere & Company by 52.9% in the fourth quarter. Manchester Capital Management LLC now owns 1,694 shares of the industrial products company's stock worth $789,000 after buying an additional 586 shares during the last quarter. IMA Advisory Services Inc. increased its position in Deere & Company by 618.1% in the fourth quarter. IMA Advisory Services Inc. now owns 2,614 shares of the industrial products company's stock worth $1,221,000 after buying an additional 2,250 shares during the last quarter. Trust Co of Kansas increased its position in Deere & Company by 17.2% in the fourth quarter. Trust Co of Kansas now owns 10,879 shares of the industrial products company's stock worth $5,065,000 after buying an additional 1,593 shares during the last quarter. Finally, SouthState Bank Corp increased its position in Deere & Company by 1.0% in the fourth quarter. SouthState Bank Corp now owns 2,155 shares of the industrial products company's stock worth $1,003,000 after buying an additional 21 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.8%

DE stock opened at $578.07 on Wednesday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of $156.04 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92. The business has a 50 day moving average of $572.93 and a 200 day moving average of $547.52.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $6.64 EPS. On average, research analysts forecast that Deere & Company will post 18.1 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DE. Bank of America reduced their price target on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research report on Friday, May 22nd. UBS Group lifted their price objective on Deere & Company from $535.00 to $775.00 and gave the company a "buy" rating in a research note on Friday, February 20th. BMO Capital Markets lifted their price target on Deere & Company from $460.00 to $500.00 and gave the stock a "market perform" rating in a research note on Friday, February 20th. Barclays boosted their target price on Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $639.58.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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