Breakwater Capital Group Boosts Holdings in Deere & Company (NYSE:DE)

Breakwater Capital Group raised its holdings in shares of Deere & Company (NYSE:DE) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,642 shares of the industrial products company’s stock after buying an additional 44 shares during the period. Breakwater Capital Group’s holdings in Deere & Company were worth $696,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Everence Capital Management Inc. lifted its holdings in Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC boosted 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 worth $369,019,000 after buying an additional 540,874 shares during the period. Toronto Dominion Bank increased its stake 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 worth $36,288,000 after buying an additional 1,291 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares during the period. Finally, Chase Investment Counsel Corp lifted its position in shares of 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 acquiring an additional 1,400 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 5.3 %

Shares of DE opened at $430.17 on Tuesday. The firm has a market capitalization of $117.69 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96. 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 has a 1-year low of $340.20 and a 1-year high of $469.39. The company has a 50-day moving average of $428.56 and a 200 day moving average of $400.45.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the firm earned $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 19.41 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is 22.97%.

Analysts Set New Price Targets

Several research firms recently issued reports on DE. Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup lifted their price objective on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $443.94.

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.