Deere & Company $DE Shares Bought by Mariner LLC

Mariner LLC raised its holdings in Deere & Company (NYSE:DE) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 142,813 shares of the industrial products company’s stock after acquiring an additional 1,790 shares during the period. Mariner LLC’s holdings in Deere & Company were worth $66,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Norges Bank acquired a new stake in Deere & Company during the 4th quarter worth about $1,715,633,000. Capital World Investors increased its holdings in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Deere & Company by 1,725.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after buying an additional 1,893,972 shares during the last quarter. M&T Bank Corp increased its holdings in Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after buying an additional 1,721,239 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Deere & Company by 278.0% in the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after buying an additional 358,687 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $575.87 on Tuesday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The firm has a market cap of $155.45 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The business has a fifty day moving average of $573.28 and a 200-day moving average of $549.86.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $6.64 earnings per share. On average, equities research analysts predict that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Argus increased their price objective on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Truist Financial reduced their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Wells Fargo & Company increased their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Finally, Bank of America dropped their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.