Massachusetts Wealth Management Purchases 155 Shares of Deere & Company (NYSE:DE)

Massachusetts Wealth Management raised its stake in Deere & Company (NYSE:DE) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,102 shares of the industrial products company’s stock after buying an additional 155 shares during the period. Massachusetts Wealth Management’s holdings in Deere & Company were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC increased its holdings in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Deere & Company during the 2nd quarter valued at $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 3rd quarter valued at $32,000. Olistico Wealth LLC bought a new position in shares of Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR grew its holdings in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.3 %

NYSE:DE traded up $1.38 on Friday, reaching $412.45. 107,727 shares of the stock traded hands, compared to its average volume of 1,451,450. The company has a market capitalization of $113.66 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.35 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company’s fifty day simple moving average is $396.54 and its 200 day simple moving average is $385.38.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $10.20 EPS. Equities analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is presently 17.70%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Oppenheimer reduced their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $420.69.

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.