MTM Investment Management LLC Has $350,000 Stock Holdings in Deere & Company (NYSE:DE)

MTM Investment Management LLC cut its stake in Deere & Company (NYSE:DE) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 827 shares of the industrial products company’s stock after selling 98 shares during the quarter. MTM Investment Management LLC’s holdings in Deere & Company were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DE. ORG Wealth Partners LLC acquired a new position in shares of Deere & Company in the third quarter worth $55,000. Wedge Capital Management L L P NC bought a new stake in Deere & Company in the third quarter worth $4,728,000. Creative Planning boosted its holdings in Deere & Company by 2.1% in the third quarter. Creative Planning now owns 75,462 shares of the industrial products company’s stock worth $31,493,000 after purchasing an additional 1,555 shares in the last quarter. Zhang Financial LLC boosted its holdings in Deere & Company by 19.1% in the third quarter. Zhang Financial LLC now owns 2,334 shares of the industrial products company’s stock worth $974,000 after purchasing an additional 374 shares in the last quarter. Finally, ERn Financial LLC boosted its holdings in Deere & Company by 2.6% in the third quarter. ERn Financial LLC now owns 3,799 shares of the industrial products company’s stock worth $1,585,000 after purchasing an additional 97 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Truist Financial upped their price target 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. Finally, Oppenheimer upped their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $446.17.

Deere & Company Stock Performance

NYSE DE opened at $476.53 on Thursday. The firm has a market cap of $129.78 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98. The company has a 50 day moving average of $445.46 and a 200-day moving average of $414.70. 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 has a 1-year low of $340.20 and a 1-year high of $485.84.

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

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. Deere & Company’s dividend payout ratio (DPR) 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.