Jacobs & Co. CA Has $11.95 Million Stake in Deere & Company (NYSE:DE)

Jacobs & Co. CA boosted its holdings in shares of Deere & Company (NYSE:DE) by 9.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,875 shares of the industrial products company’s stock after purchasing an additional 2,539 shares during the period. Deere & Company accounts for approximately 1.4% of Jacobs & Co. CA’s holdings, making the stock its 29th largest holding. Jacobs & Co. CA’s holdings in Deere & Company were worth $11,946,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. RB Capital Management LLC boosted its position in Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after buying an additional 81 shares during the last quarter. Bornite Capital Management LP bought a new position in shares of Deere & Company in the 1st quarter worth $14,541,000. Retirement Income Solutions Inc bought a new position in shares of Deere & Company in the 1st quarter worth $229,000. Sequoia Financial Advisors LLC boosted its position in shares of Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after purchasing an additional 27,985 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE opened at $409.23 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The stock has a 50-day moving average of $379.82 and a 200-day moving average of $381.32. The company has a market cap of $113.91 billion, a PE ratio of 11.92, a P/E/G ratio of 1.50 and a beta of 1.03. Deere & Company has a one year low of $345.55 and a one year high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.55 EPS. On average, equities research analysts predict that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is currently 17.12%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Morgan Stanley started coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Finally, Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $431.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.