Deere & Company (NYSE:DE) Stake Lowered by MTM Investment Management LLC

MTM Investment Management LLC cut its stake in shares of Deere & Company (NYSE:DE) by 10.6% in the 4th quarter, according to its most recent Form 13F filing 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 SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Everence Capital Management Inc. boosted its position in shares of Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after buying an additional 7,300 shares during the period. Stockbridge Partners LLC boosted 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 worth $369,019,000 after buying an additional 540,874 shares during the period. Compass Financial Services Inc acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $254,000. Toronto Dominion Bank boosted 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 buying an additional 1,291 shares during the period. Finally, Chase Investment Counsel Corp boosted 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 buying an additional 1,400 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

NYSE DE opened at $476.53 on Thursday. The business’s fifty day moving average is $445.46 and its two-hundred day moving average is $414.70. 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 1 year low of $340.20 and a 1 year high of $485.84. The stock has a market capitalization of $129.78 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) 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 company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. The company’s revenue was down 32.8% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Analyst Upgrades and Downgrades

DE has been the subject of several analyst reports. Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Citigroup cut their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $446.17.

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.