Plimoth Trust Co. LLC Has $2.96 Million Holdings in Deere & Company (NYSE:DE)

Plimoth Trust Co. LLC grew its holdings in Deere & Company (NYSE:DE) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,990 shares of the industrial products company’s stock after purchasing an additional 34 shares during the period. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $2,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. FMR LLC grew its stake in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC grew its stake in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average target price of $444.50.

Deere & Company Trading Up 0.2 %

Shares of Deere & Company stock traded up $1.18 on Wednesday, reaching $481.17. 97,933 shares of the company’s stock were exchanged, compared to its average volume of 1,344,417. The company has a market capitalization of $131.05 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The firm’s 50-day moving average is $441.75 and its two-hundred day moving average is $408.11. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the business earned $8.26 EPS. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 1.35%. 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. Deere & Company’s dividend payout ratio is 25.31%.

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.