Spinnaker Trust Acquires 154 Shares of Deere & Company (NYSE:DE)

Spinnaker Trust raised its holdings in shares of Deere & Company (NYSE:DE) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,089 shares of the industrial products company’s stock after acquiring an additional 154 shares during the quarter. Spinnaker Trust’s holdings in Deere & Company were worth $5,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Wellington Management Group LLP grew its position in shares of Deere & Company by 32.0% during 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 purchasing an additional 1,782,984 shares in the last quarter. FMR LLC grew its position in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC grew its position in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC grew its position in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $480.17 on Friday. The company has a 50 day moving average price of $446.23 and a 200-day moving average price of $415.49. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The company has a market capitalization of $130.77 billion, a PE ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. As a group, equities analysts forecast that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup lifted their price target on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $448.72.

Deere & Company 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.