Deere & Company (NYSE:DE) is Montgomery Investment Management Inc.’s 7th Largest Position

Montgomery Investment Management Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,145 shares of the industrial products company’s stock after selling 233 shares during the period. Deere & Company makes up approximately 4.5% of Montgomery Investment Management Inc.’s investment portfolio, making the stock its 7th largest position. Montgomery Investment Management Inc.’s holdings in Deere & Company were worth $11,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DE. Czech National Bank boosted its position in Deere & Company by 5.8% in the 3rd quarter. Czech National Bank now owns 52,206 shares of the industrial products company’s stock valued at $21,787,000 after buying an additional 2,875 shares during the period. GAMMA Investing LLC boosted its position in Deere & Company by 29.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,290 shares of the industrial products company’s stock valued at $956,000 after buying an additional 515 shares during the period. Miracle Mile Advisors LLC boosted its position in Deere & Company by 4.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,112 shares of the industrial products company’s stock valued at $1,716,000 after buying an additional 167 shares during the period. Fulton Bank N.A. boosted its position in Deere & Company by 6.5% in the 3rd quarter. Fulton Bank N.A. now owns 4,002 shares of the industrial products company’s stock valued at $1,670,000 after buying an additional 246 shares during the period. Finally, Ignite Planners LLC purchased a new position in Deere & Company in the 3rd quarter valued at approximately $204,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on DE shares. Morgan Stanley raised their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $444.50.

Deere & Company Trading Up 1.2 %

NYSE DE opened at $472.72 on Wednesday. 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 firm has a market cap of $128.75 billion, a PE ratio of 18.47, a P/E/G ratio of 2.94 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The firm’s fifty day moving average is $444.77 and its two-hundred day moving average is $410.83.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the business posted $8.26 earnings per share. Analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. Deere & Company’s payout ratio is presently 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.