Massachusetts Wealth Management Grows Holdings in Deere & Company (NYSE:DE)

Massachusetts Wealth Management grew its position in Deere & Company (NYSE:DE) by 0.5% in the fourth quarter, HoldingsChannel reports. The fund owned 5,127 shares of the industrial products company’s stock after acquiring an additional 25 shares during the quarter. Deere & Company accounts for about 1.3% of Massachusetts Wealth Management’s portfolio, making the stock its 29th largest position. Massachusetts Wealth Management’s holdings in Deere & Company were worth $2,172,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Everence Capital Management Inc. grew 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 valued at $5,179,000 after purchasing an additional 7,300 shares during the period. Stockbridge Partners LLC lifted its stake in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying 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 buying an additional 1,291 shares during the last quarter. Chase Investment Counsel Corp boosted its holdings in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares during the last quarter. Finally, Czech National Bank increased its stake in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after buying an additional 2,964 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.2 %

Shares of DE opened at $472.72 on Wednesday. The company’s 50-day moving average price is $445.00 and its 200 day moving average price is $411.50. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a market cap of $128.75 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the prior year, the business posted $8.26 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer increased their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $444.50.

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.