Mandatum Life Insurance Co Ltd raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,938 shares of the industrial products company's stock after buying an additional 801 shares during the quarter. Mandatum Life Insurance Co Ltd's holdings in Deere & Company were worth $1,245,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Fairscale Capital LLC acquired a new stake in Deere & Company during the second quarter worth about $26,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Centennial Bank AR increased its position in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 84 shares during the period. Finally, Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 67 shares in the last quarter. 68.58% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. Finally, Truist Financial increased their target price 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. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $442.83.
Get Our Latest Stock Report on Deere & Company
Deere & Company Stock Performance
Shares of DE opened at $456.57 on Monday. The firm has a market cap of $124.35 billion, a P/E ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm's 50 day moving average price is $431.48 and its two-hundred day moving average price is $402.25.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.20 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. Deere & Company's revenue for the quarter was down 32.8% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.57 EPS for the current fiscal year.
Deere & Company Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's payout ratio is currently 25.31%.
About Deere & Company
(
Free Report)
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.
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