Deere & Company (NYSE:DE) Shares Acquired by Massachusetts Wealth Management

Massachusetts Wealth Management raised its stake in Deere & Company (NYSE:DE) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,947 shares of the industrial products company’s stock after purchasing an additional 95 shares during the period. Massachusetts Wealth Management’s holdings in Deere & Company were worth $1,848,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC lifted its position in Deere & Company by 1,180.0% during the 4th 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 during the period. Pineridge Advisors LLC increased its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $29,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 4th quarter worth about $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in Deere & Company in the 4th quarter valued at about $33,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $3.92 during trading on Friday, hitting $385.74. 1,413,160 shares of the company traded hands, compared to its average volume of 1,615,005. The stock has a market capitalization of $106.30 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $423.35. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The business’s fifty day moving average is $367.94 and its 200-day moving average is $379.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.20 earnings per share. As a group, equities analysts predict that Deere & Company will post 25.09 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Finally, TD Cowen increased their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $414.11.

Deere & Company Profile

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.