Mackenzie Financial Corp Has $62.93 Million Stock Holdings in Deere & Company (NYSE:DE)

Mackenzie Financial Corp raised its stake in shares of Deere & Company (NYSE:DE) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,381 shares of the industrial products company’s stock after purchasing an additional 3,536 shares during the period. Mackenzie Financial Corp owned 0.06% of Deere & Company worth $62,932,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Briaud Financial Planning Inc bought a new stake in shares of Deere & Company in the third quarter valued at approximately $25,000. Retirement Group LLC boosted its position in shares of Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 45 shares during the period. ZRC Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Worth Asset Management LLC bought a new position in Deere & Company in the first quarter worth $28,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Deere & Company during the third quarter worth $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $393.11 on Wednesday. The business’s 50-day moving average price is $384.95 and its 200-day moving average price is $382.56. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The firm has a market capitalization of $109.43 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.48 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 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 analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.55 EPS. Equities research analysts forecast that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Evercore ISI lifted their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Stifel Nicolaus cut their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Melius Research reissued a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, Morgan Stanley initiated coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Ten 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, Deere & Company has an average rating of “Hold” and a consensus price target of $433.28.

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.