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

Massachusetts Wealth Management increased its stake in shares of Deere & Company (NYSE:DE) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,102 shares of the industrial products company’s stock after purchasing an additional 155 shares during the period. Massachusetts Wealth Management’s holdings in Deere & Company were worth $2,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Mediolanum International Funds Ltd raised its holdings in shares of Deere & Company by 4.5% during the third quarter. Mediolanum International Funds Ltd now owns 51,750 shares of the industrial products company’s stock valued at $21,596,000 after purchasing an additional 2,205 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in Deere & Company by 3.3% during the third quarter. Lake Street Advisors Group LLC now owns 2,498 shares of the industrial products company’s stock valued at $1,046,000 after buying an additional 79 shares during the last quarter. Tandem Capital Management Corp ADV purchased a new stake in Deere & Company during the third quarter valued at approximately $1,288,000. Silver Oak Securities Incorporated increased its holdings in Deere & Company by 10.2% during the third quarter. Silver Oak Securities Incorporated now owns 963 shares of the industrial products company’s stock valued at $402,000 after buying an additional 89 shares during the last quarter. Finally, Harbour Trust & Investment Management Co increased its holdings in Deere & Company by 1.4% during the third quarter. Harbour Trust & Investment Management Co now owns 28,005 shares of the industrial products company’s stock valued at $11,687,000 after buying an additional 390 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on DE shares. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial upped their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Raymond James started coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

Shares of NYSE:DE traded up $1.38 during midday trading on Friday, reaching $412.45. 107,727 shares of the company were exchanged, compared to its average volume of 1,451,450. The stock has a market cap of $113.66 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The business’s fifty day moving average is $396.54 and its two-hundred day moving average is $385.38. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 earnings per share. As a group, analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

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.