Texas Capital Bank Wealth Management Services Inc Purchases 709 Shares of Deere & Company (NYSE:DE)

Texas Capital Bank Wealth Management Services Inc grew its position in shares of Deere & Company (NYSE:DE) by 2.8% during the second quarter, Holdings Channel reports. The institutional investor owned 25,980 shares of the industrial products company’s stock after purchasing an additional 709 shares during the quarter. Deere & Company accounts for 1.0% of Texas Capital Bank Wealth Management Services Inc’s holdings, making the stock its 18th largest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in Deere & Company were worth $9,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the 4th quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management bought a new position in Deere & Company in the 4th quarter valued at $33,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Evercore ISI increased their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Citigroup decreased their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Morgan Stanley dropped their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $410.50.

Deere & Company Stock Performance

Shares of DE stock opened at $418.06 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $419.63. The company has a market capitalization of $115.20 billion, a P/E ratio of 12.58, a PEG ratio of 1.36 and a beta of 0.92. The stock has a 50 day moving average price of $379.51 and a two-hundred day moving average price of $384.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the firm posted $10.20 earnings per share. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. Analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.