MWA Asset Management Raises Stake in Deere & Company (NYSE:DE)

MWA Asset Management lifted its stake in Deere & Company (NYSE:DE) by 1.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,209 shares of the industrial products company’s stock after buying an additional 127 shares during the period. Deere & Company comprises approximately 2.3% of MWA Asset Management’s portfolio, making the stock its 10th biggest holding. MWA Asset Management’s holdings in Deere & Company were worth $3,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the second quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the third quarter valued at $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the second quarter worth $37,000. Finally, Centennial Bank AR boosted its stake in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $400.13 on Wednesday. The company has a 50 day moving average price of $404.63 and a 200 day moving average price of $385.69. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock has a market capitalization of $109.47 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.