Deere & Company (NYSE:DE) Shares Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its holdings in shares of Deere & Company (NYSE:DE) by 23.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,776 shares of the industrial products company’s stock after purchasing an additional 342 shares during the quarter. Mechanics Bank Trust Department’s holdings in Deere & Company were worth $752,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Everence Capital Management Inc. increased its position in shares of Deere & Company by 148.3% in the fourth 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 in the last quarter. Stockbridge Partners LLC boosted 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 purchasing an additional 540,874 shares during the period. Toronto Dominion Bank increased its holdings in Deere & Company by 1.5% in 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 in the last quarter. Chase Investment Counsel Corp raised its position in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Finally, Czech National Bank raised its position in Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after purchasing an additional 2,964 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 4.0 %

DE stock opened at $456.57 on Monday. The firm has a market cap of $124.35 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The firm has a fifty day moving average price of $431.48 and a two-hundred day moving average price of $402.25. 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 announced its quarterly earnings data 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. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. 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 prior year, the firm earned $8.26 EPS. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Research analysts predict that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Truist Financial upped their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Citigroup lowered their target price 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.com, Deere & Company presently has a consensus rating of “Hold” and an average target price 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.