Deere & Company (NYSE:DE) Shares Purchased by Vestmark Advisory Solutions Inc.

Posted by on Apr 1st, 2023

Vestmark Advisory Solutions Inc. grew its stake in shares of Deere & Company (NYSE:DE – Get Rating) by 6.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,319 shares of the industrial products company’s stock after purchasing an additional 197 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Deere & Company were worth $1,423,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DE. Altshuler Shaham Ltd acquired a new stake in Deere & Company during the 3rd quarter valued at $337,686,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Deere & Company by 16.2% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,686,779 shares of the industrial products company’s stock valued at $563,198,000 after purchasing an additional 234,811 shares during the last quarter. Mirova US LLC acquired a new position in Deere & Company in the third quarter worth about $71,797,000. Vanguard Group Inc. boosted its holdings in shares of Deere & Company by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 22,093,821 shares of the industrial products company’s stock valued at $7,376,906,000 after buying an additional 208,053 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Deere & Company by 185.0% during the 1st quarter. Mackenzie Financial Corp now owns 268,202 shares of the industrial products company’s stock valued at $111,427,000 after purchasing an additional 174,097 shares during the period. Hedge funds and other institutional investors own 75.72% of the company’s stock.

Deere & Company Stock Performance

DE opened at $412.88 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.64. The stock has a market cap of $122.34 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.07 and a beta of 1.05. Deere & Company has a 12-month low of $283.81 and a 12-month high of $448.40. The business has a 50 day moving average of $411.15 and a 200-day moving average of $405.06.

Deere & Company (NYSE:DE – Get Rating) last released its quarterly earnings data on Friday, February 17th. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.53 by $1.02. Deere & Company had a net margin of 14.71% and a return on equity of 41.17%. The firm had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.14 billion. During the same period in the previous year, the company earned $2.92 earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 30.58 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Stockholders of record on Friday, March 31st will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, March 30th. This is a boost from Deere & Company’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.21%. Deere & Company’s dividend payout ratio (DPR) is currently 17.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Deere & Company from $522.00 to $537.00 and gave the company an “overweight” rating in a research note on Tuesday, February 21st. Wells Fargo & Company raised their price objective on Deere & Company from $485.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, February 20th. Argus lifted their price objective on Deere & Company from $475.00 to $485.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. DA Davidson reissued a “buy” rating and issued a $520.00 target price on shares of Deere & Company in a report on Tuesday, February 21st. Finally, Stifel Nicolaus boosted their price objective on Deere & Company from $475.00 to $477.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $459.86.

About Deere & Company

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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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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