J.P. Marvel Investment Advisors LLC Has $11.77 Million Stock Holdings in Deere & Company (NYSE:DE)

J.P. Marvel Investment Advisors LLC raised its stake in Deere & Company (NYSE:DE) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,784 shares of the industrial products company’s stock after acquiring an additional 740 shares during the period. Deere & Company makes up about 1.9% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 15th biggest holding. J.P. Marvel Investment Advisors LLC’s holdings in Deere & Company were worth $11,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 3rd quarter worth $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the 4th quarter worth $34,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 3.0 %

NYSE DE opened at $480.17 on Friday. The business’s 50-day moving average price is $446.95 and its two-hundred day moving average price is $416.21. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The firm has a market capitalization of $130.77 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.87 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 announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $448.72.

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.