M&T Bank Corp Boosts Position in Deere & Company (NYSE:DE)

M&T Bank Corp lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 170,325 shares of the industrial products company's stock after acquiring an additional 6,520 shares during the period. M&T Bank Corp owned 0.06% of Deere & Company worth $71,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 3rd quarter worth about $32,000. Centennial Bank AR raised its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock worth $39,000 after acquiring an additional 84 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after acquiring an additional 67 shares in the last quarter. Finally, Briaud Financial Planning Inc increased its position in Deere & Company by 73.5% during the second quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company's stock worth $44,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $5.29 during trading on Tuesday, reaching $444.13. The company's stock had a trading volume of 1,215,248 shares, compared to its average volume of 1,442,975. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a market capitalization of $121.51 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The business has a 50 day moving average price of $418.17 and a 200-day moving average price of $390.83.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts' consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for 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 business earned $8.26 earnings per share. As a group, sell-side analysts anticipate that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.46%. This is an increase from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company's payout ratio is presently 25.31%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $420.00 to $450.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Hsbc Global Res lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Finally, HSBC lowered Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus price target of $443.28.

Deere & Company 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.