Texas Capital Bank Wealth Management Services Inc Buys New Shares in Deere & Company $DE

Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, Holdings Channel.com reports. The fund bought 32,395 shares of the industrial products company’s stock, valued at approximately $20,549,000. Deere & Company accounts for approximately 1.1% of Texas Capital Bank Wealth Management Services Inc’s investment portfolio, making the stock its 15th largest position.

Several other large investors also recently bought and sold shares of DE. Anchyra Partners LLC boosted its stake in shares of Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares during the period. William B. Walkup & Associates Inc. increased its stake in shares of Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares during the period. Advisortrust Partners LLC raised its holdings in Deere & Company by 2.0% in the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its holdings in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Truist Financial lifted their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their target price on Deere & Company from $590.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday. Oppenheimer restated an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $641.98.

Deere & Company Trading Down 1.4%

Shares of Deere & Company stock opened at $600.08 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a market capitalization of $161.99 billion, a P/E ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company’s fifty day moving average is $603.76 and its two-hundred day moving average is $588.84.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the firm earned $6.64 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

Deere & Company Company Profile

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.