Deere & Company $DE Position Raised by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB boosted its position in Deere & Company (NYSE:DE) by 26.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,911 shares of the industrial products company’s stock after purchasing an additional 1,455 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Deere & Company were worth $4,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Key Capital Management INC bought a new stake in shares of Deere & Company in the 4th quarter worth $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company during the fourth quarter valued at about $29,000. McIlrath & Eck LLC bought a new position in Deere & Company during the fourth quarter valued at about $30,000. Portus Wealth Advisors LLC acquired a new position in Deere & Company during the first quarter worth about $32,000. Finally, Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter worth about $32,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 2.1%

Shares of NYSE DE opened at $617.64 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a market cap of $166.73 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.56 and a beta of 0.90. The business has a fifty day simple moving average of $594.84 and a 200-day simple moving average of $582.79.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $6.64 EPS. Sell-side analysts predict that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Truist Financial boosted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Citigroup increased their target price on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, DA Davidson restated a “buy” rating and set a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.