Waycross Investment Management Co Decreases Stock Holdings in Deere & Company (NYSE:DE)

Waycross Investment Management Co reduced its holdings in Deere & Company (NYSE:DE) by 2.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,886 shares of the industrial products company’s stock after selling 104 shares during the period. Deere & Company makes up 1.7% of Waycross Investment Management Co’s portfolio, making the stock its 17th largest holding. Waycross Investment Management Co’s holdings in Deere & Company were worth $1,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Everence Capital Management Inc. boosted its stake in Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after buying an additional 7,300 shares during the period. Stockbridge Partners LLC boosted its stake in shares of Deere & Company by 157.5% during 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. Toronto Dominion Bank grew its holdings in Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after purchasing an additional 1,291 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the period. Finally, Chase Investment Counsel Corp raised its position in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 5.3 %

Shares of NYSE DE opened at $430.17 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The business has a fifty day moving average price of $428.56 and a 200 day moving average price of $400.45. The stock has a market capitalization of $117.69 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. 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) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same period last year, the business earned $8.26 EPS. Equities research analysts expect that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio is presently 22.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Oppenheimer boosted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Truist Financial raised their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $443.94.

Deere & Company Profile

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.