DDD Partners LLC Has $388,000 Stock Holdings in Deere & Company (NYSE:DE)

DDD Partners LLC boosted its stake in Deere & Company (NYSE:DE) by 12.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 916 shares of the industrial products company’s stock after buying an additional 100 shares during the period. DDD Partners LLC’s holdings in Deere & Company were worth $388,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DE. Wellington Management Group LLP raised its stake in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC increased its holdings in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC raised its position in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Deere & Company by 46,892.9% in the third 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 during the period. Finally, Stockbridge Partners LLC grew its position in 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 in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Barclays upped their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Oppenheimer lifted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $450.12.

Deere & Company Stock Performance

Deere & Company stock opened at $480.17 on Monday. The firm has a market capitalization of $130.77 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm’s 50 day simple moving average is $446.95 and its 200 day simple moving average is $416.52. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, analysts expect that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio is presently 25.31%.

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.