Brooklyn Investment Group Raises Holdings in Deere & Company (NYSE:DE)

Brooklyn Investment Group increased its position in Deere & Company (NYSE:DE) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,691 shares of the industrial products company’s stock after buying an additional 130 shares during the quarter. Brooklyn Investment Group’s holdings in Deere & Company were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Everence Capital Management Inc. raised its position in shares of Deere & Company by 148.3% in the 4th 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 increased its holdings in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. 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 increased its holdings 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 valued at $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Czech National Bank increased its holdings in Deere & Company by 5.7% in the 4th 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 in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on DE shares. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. increased their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday. 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. Finally, Truist Financial raised their target price 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Performance

Shares of NYSE DE opened at $456.57 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The firm’s 50-day moving average price is $430.22 and its two-hundred day moving average price is $401.33. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The stock has a market capitalization 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.

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 company 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 business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.26 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 19.57 earnings per share for the current 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 issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.

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.