Douglass Winthrop Advisors LLC Increases Stock Position in Deere & Company $DE

Key Points

• Douglass Winthrop Advisors LLC increased its stake in Deere & Company by 0.9%, owning approximately 279,726 shares valued at around $131 million, making it the firm's 15th largest position.
• Deere & Company reported an EPS of $4.75 for the last quarter, exceeding estimates, but showed a 9% year-over-year revenue decline.
• The firm declared a quarterly dividend of $1.62 per share, with a dividend yield of 1.3% and a payout ratio of 33.87%.

Douglass Winthrop Advisors LLC boosted its position in Deere & Company (NYSE:DE - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,726 shares of the industrial products company's stock after buying an additional 2,422 shares during the period. Deere & Company makes up about 2.5% of Douglass Winthrop Advisors LLC's holdings, making the stock its 15th biggest position. Douglass Winthrop Advisors LLC owned approximately 0.10% of Deere & Company worth $131,289,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DE. Brighton Jones LLC increased its stake in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in Deere & Company during the fourth quarter valued at about $2,110,000. MGO One Seven LLC increased its position in Deere & Company by 28.5% during the 4th quarter. MGO One Seven LLC now owns 3,884 shares of the industrial products company's stock worth $1,646,000 after purchasing an additional 861 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Deere & Company in the fourth quarter worth $22,940,000. Finally, Burling Wealth Partners LLC purchased a new position in Deere & Company in the fourth quarter valued at about $225,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.7%

Deere & Company stock opened at $495.0920 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a market capitalization of $134.09 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.11 and a beta of 1.06. Deere & Company has a one year low of $374.46 and a one year high of $533.78. The company's fifty day moving average price is $508.58 and its two-hundred day moving average price is $490.43.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.29 earnings per share. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DE. Raymond James Financial upped their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Truist Financial cut their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and an average target price of $523.87.

Deere & Company 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.

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