Patrick M Sweeney & Associates Inc. Raises Stake in Deere & Company (NYSE:DE)

Patrick M Sweeney & Associates Inc. boosted its position in Deere & Company (NYSE:DE) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,115 shares of the industrial products company’s stock after buying an additional 25 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Deere & Company were worth $896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC boosted its position in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares during the last quarter. FMR LLC boosted its position in Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Fisher Asset Management LLC boosted its position in Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after purchasing an additional 158,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Deere & Company by 5.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock worth $722,733,000 after purchasing an additional 85,401 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DE shares. Truist Financial upped their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Up 1.1 %

NYSE DE opened at $484.08 on Tuesday. The business has a fifty day moving average price of $438.55 and a 200 day moving average price of $406.44. Deere & Company has a one year low of $340.20 and a one year high of $484.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company has a market cap of $131.84 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the company earned $8.26 EPS. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.34%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Deere & Company Profile

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.