CCLA Investment Management Raises Stock Position in Deere & Company (NYSE:DE)

CCLA Investment Management raised its stake in shares of Deere & Company (NYSE:DE) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 213,714 shares of the industrial products company’s stock after acquiring an additional 21,494 shares during the quarter. CCLA Investment Management’s holdings in Deere & Company were worth $90,542,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Everence Capital Management Inc. lifted its stake in Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after buying an additional 7,300 shares in the last quarter. Stockbridge Partners LLC boosted its stake in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Chase Investment Counsel Corp increased its position in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Czech National Bank raised its stake in Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after purchasing an additional 2,964 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Citigroup cut 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. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price of $441.72.

Deere & Company Trading Up 0.5 %

DE opened at $432.17 on Wednesday. The business has a fifty day moving average price of $429.20 and a 200 day moving average price of $400.87. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The stock has a market capitalization of $118.24 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.88 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the company earned $8.26 earnings per share. The firm’s revenue was down 32.8% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 22.97%.

About Deere & Company

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.