Texas Capital Bank Wealth Management Services Inc Has $11.82 Million Stock Position in Deere & Company $DE

Key Points

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Texas Capital Bank Wealth Management Services Inc cut its position in Deere & Company (NYSE:DE - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,179 shares of the industrial products company's stock after selling 950 shares during the period. Deere & Company accounts for 1.2% of Texas Capital Bank Wealth Management Services Inc's investment portfolio, making the stock its 13th largest holding. Texas Capital Bank Wealth Management Services Inc's holdings in Deere & Company were worth $11,818,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DE. Chicago Partners Investment Group LLC boosted its holdings in Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after purchasing an additional 21 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after acquiring an additional 21 shares during the last quarter. Sunbelt Securities Inc. grew its stake in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after purchasing an additional 22 shares in the last quarter. First Bancorp Inc ME grew its position in shares of Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after acquiring an additional 23 shares during the last quarter. Finally, Leisure Capital Management raised its stake in shares of Deere & Company by 0.8% during the 1st quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock worth $1,355,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Up 1.7%

Shares of DE traded up $8.3320 during mid-day trading on Friday, reaching $495.0920. 1,133,367 shares of the company's stock traded hands, compared to its average volume of 1,363,905. Deere & Company has a 12 month low of $374.46 and a 12 month high of $533.78. The stock's 50-day moving average is $508.86 and its two-hundred day moving average is $490.28. The stock has a market cap of $134.09 billion, a P/E ratio of 25.88, a P/E/G ratio of 3.15 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on DE shares. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Evercore ISI set a $491.00 price target on Deere & Company in a research note on Tuesday. Oppenheimer boosted their price target on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Finally, Citigroup reduced their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.