Spring Capital Management LLC Raises Holdings in Deere & Company (NYSE:DE)

Spring Capital Management LLC lifted its stake in Deere & Company (NYSE:DE) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 18,902 shares of the industrial products company’s stock after acquiring an additional 297 shares during the quarter. Deere & Company accounts for 5.9% of Spring Capital Management LLC’s holdings, making the stock its 4th largest position. Spring Capital Management LLC’s holdings in Deere & Company were worth $7,558,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $25,000. Retirement Group LLC boosted its stake in Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter worth $28,000. Worth Asset Management LLC acquired a new position in Deere & Company in the first quarter worth $28,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Deere & Company during the third quarter worth $37,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 0.2 %

Shares of NYSE:DE opened at $408.50 on Thursday. The company has a market capitalization of $113.71 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.50 and a beta of 1.03. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The business’s 50-day moving average is $379.82 and its 200-day moving average is $381.32. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.55 EPS. Equities research analysts predict that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective for the company. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $380.00 to $385.00 and gave the stock a “neutral” rating in a research report on Monday, December 4th. Finally, Evercore ISI upped their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $431.69.

Deere & Company 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.