Addenda Capital Inc. Sells 46 Shares of Deere & Company (NYSE:DE)

Addenda Capital Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,985 shares of the industrial products company’s stock after selling 46 shares during the quarter. Addenda Capital Inc.’s holdings in Deere & Company were worth $6,798,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. lifted its position in Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares during the period. Stockbridge Partners LLC lifted its position in 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 acquiring an additional 540,874 shares during the period. Toronto Dominion Bank lifted its position 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 worth $36,288,000 after acquiring an additional 1,291 shares during the period. Chase Investment Counsel Corp raised its stake in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,400 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after buying an additional 2,964 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 4.0 %

Shares of Deere & Company stock opened at $456.57 on Tuesday. The stock has a market cap of $124.00 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The stock’s 50 day simple moving average is $431.48 and its 200-day simple moving average is $402.53. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. 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 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. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the firm posted $8.26 earnings per share. Analysts predict that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Barclays lifted 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. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their price objective on 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 lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $442.83.

About Deere & Company

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.