Investment Management Corp of Ontario Raises Stock Position in Deere & Company (NYSE:DE)

Investment Management Corp of Ontario grew its holdings in Deere & Company (NYSE:DE - Free Report) by 47.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,678 shares of the industrial products company's stock after acquiring an additional 2,800 shares during the period. Investment Management Corp of Ontario's holdings in Deere & Company were worth $3,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company's stock worth $356,602,000 after purchasing an additional 852,885 shares during the last quarter. International Assets Investment Management LLC raised its position in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company's stock valued at $322,218,000 after purchasing an additional 770,451 shares during the period. Stockbridge Partners LLC boosted its holdings in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after purchasing an additional 540,874 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new stake in shares of Deere & Company in the second quarter valued at $166,937,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial raised their price target on Deere & Company from $496.00 to $538.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $436.41.

Deere & Company Stock Performance

Deere & Company stock traded down $4.91 during mid-day trading on Wednesday, hitting $454.34. The company had a trading volume of 545,533 shares, compared to its average volume of 1,445,266. The company has a market capitalization of $124.31 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.98 and a beta of 0.96. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company's fifty day moving average is $415.29 and its 200-day moving average is $389.04. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the business earned $8.26 earnings per share. The firm's revenue was down 32.8% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.43%. Deere & Company's dividend payout ratio (DPR) is currently 22.97%.

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.