MassMutual Private Wealth & Trust FSB Decreases Stake in Deere & Company (NYSE:DE)

MassMutual Private Wealth & Trust FSB decreased its holdings in Deere & Company (NYSE:DE) by 21.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,981 shares of the industrial products company’s stock after selling 1,621 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Deere & Company were worth $2,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Everence Capital Management Inc. boosted its position in shares of Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after buying an additional 7,300 shares during the period. Stockbridge Partners LLC lifted its position in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after acquiring an additional 1,291 shares during the period. Chase Investment Counsel Corp grew its position in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Czech National Bank raised its stake in shares of Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after purchasing an additional 2,964 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 4.0 %

NYSE DE opened at $456.57 on Tuesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a 50-day simple moving average of $431.48 and a 200-day simple moving average of $402.53. The firm has a market capitalization of $124.00 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DE. Oppenheimer upped their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $442.83.

About Deere & Company

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.