Deere & Company (NYSE:DE) Holdings Lifted by Mechanics Bank Trust Department

Mechanics Bank Trust Department raised its position in Deere & Company (NYSE:DE) by 23.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,776 shares of the industrial products company’s stock after acquiring 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 Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Everence Capital Management Inc. grew its holdings in 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 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 acquiring an additional 540,874 shares during the period. Toronto Dominion Bank grew its stake in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in shares of Deere & Company by 53.8% during 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 stake in shares of Deere & Company by 5.7% during 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 in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Truist Financial raised their price objective 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. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Citigroup lowered their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $442.83.

Deere & Company Price Performance

DE stock opened at $456.57 on Monday. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The firm has a 50-day moving average of $431.48 and a two-hundred day moving average of $402.25. The firm has a market capitalization of $124.35 billion, a PE ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. The firm’s revenue was down 32.8% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

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