M&T Bank Corp Raises Stake in Deere & Company (NYSE:DE)

M&T Bank Corp grew its stake in Deere & Company (NYSE:DE - Free Report) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,325 shares of the industrial products company's stock after purchasing an additional 6,520 shares during the period. M&T Bank Corp owned approximately 0.06% of Deere & Company worth $71,081,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. TCW Group Inc. boosted its holdings in Deere & Company by 0.6% in the 3rd quarter. TCW Group Inc. now owns 50,274 shares of the industrial products company's stock valued at $20,981,000 after purchasing an additional 296 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Deere & Company by 3.9% in the third quarter. TD Private Client Wealth LLC now owns 1,979 shares of the industrial products company's stock valued at $826,000 after buying an additional 74 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Deere & Company by 29.3% during the third quarter. Sunbelt Securities Inc. now owns 847 shares of the industrial products company's stock worth $354,000 after acquiring an additional 192 shares during the period. Toronto Dominion Bank raised its position in Deere & Company by 1.5% in the third 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 in the last quarter. Finally, First Dallas Securities Inc. acquired a new stake in Deere & Company in the third quarter valued at $351,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Deere & Company from $460.00 to $470.00 and gave the stock a "neutral" rating in a research note on Monday, December 9th. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. 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 raised their price objective on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $443.94.

Deere & Company Trading Up 1.4 %

DE traded up $5.86 during trading on Friday, hitting $432.49. The company's stock had a trading volume of 2,438,001 shares, compared to its average volume of 1,442,307. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The stock has a market cap of $117.45 billion, a PE ratio of 16.89, a PEG ratio of 1.91 and a beta of 0.96. The firm's 50 day moving average price is $423.38 and its 200-day moving average price is $394.74. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data 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. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. The business's revenue for the quarter was down 32.8% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued 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 1.50%. The ex-dividend date is Tuesday, December 31st. Deere & Company's dividend payout ratio is presently 25.31%.

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.