Stonebridge Financial Group LLC Invests $142,000 in Deere & Company (NYSE:DE)

Stonebridge Financial Group LLC bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 335 shares of the industrial products company’s stock, valued at approximately $142,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC lifted its position in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC grew its position in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group cut 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. JPMorgan Chase & Co. lifted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price of $446.17.

Deere & Company Stock Up 0.5 %

Shares of NYSE:DE opened at $476.53 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The firm’s 50-day simple moving average is $445.46 and its 200-day simple moving average is $414.70. The company has a market cap of $129.78 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the company earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

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

Deere & Company Profile

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.