Everence Capital Management Inc. Purchases Shares of 9,683 Deere & Company (NYSE:DE)

Everence Capital Management Inc. purchased a new stake in shares of Deere & Company (NYSE:DE) during the first quarter, HoldingsChannel reports. The fund purchased 9,683 shares of the industrial products company’s stock, valued at approximately $3,623,000.

A number of other large investors have also bought and sold shares of DE. Klaas Financial Asset Advisors LLC bought a new stake in Deere & Company during the fourth quarter valued at about $26,000. Grant Street Asset Management Inc. bought a new stake in shares of Deere & Company in the fourth quarter worth about $27,000. Leelyn Smith LLC increased its holdings in shares of Deere & Company by 2,500.0% in the fourth quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Syverson Strege & Co bought a new stake in shares of Deere & Company in the fourth quarter worth about $28,000. Finally, Clearview Wealth Advisors LLC bought a new stake in shares of Deere & Company in the fourth quarter worth about $32,000. 66.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:DE traded down $2.90 during trading hours on Thursday, hitting $371.89. 24,227 shares of the company’s stock traded hands, compared to its average volume of 1,859,980. Deere & Company has a 1 year low of $117.85 and a 1 year high of $392.42. The business has a fifty day moving average price of $357.42 and a 200-day moving average price of $285.84. The firm has a market capitalization of $116.56 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.24 and a quick ratio of 2.03.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $1.70. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 13.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be issued a $0.90 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $0.76. The ex-dividend date is Tuesday, March 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.97%. Deere & Company’s payout ratio is presently 41.43%.

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Deere & Company from $325.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, March 1st. Credit Suisse Group lifted their target price on Deere & Company from $343.00 to $403.00 and gave the stock an “outperform” rating in a report on Monday, March 1st. Morgan Stanley lifted their target price on Deere & Company from $341.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Jefferies Financial Group boosted their price objective on Deere & Company from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, January 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Deere & Company from $287.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday, March 1st. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $320.20.

About Deere & Company

Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

Further Reading: The four types of profit margin

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.