Ipswich Investment Management Co. Inc. Has $461,000 Stake in Deere & Company (NYSE:DE)

Ipswich Investment Management Co. Inc. trimmed its stake in Deere & Company (NYSE:DEFree Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,152 shares of the industrial products company’s stock after selling 40 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Deere & Company were worth $461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Associates Ltd. increased its holdings in Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the period. Penserra Capital Management LLC increased its holdings in Deere & Company by 2.4% in the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after purchasing an additional 5,485 shares during the period. New Mexico Educational Retirement Board increased its holdings in Deere & Company by 6.9% in the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after purchasing an additional 900 shares during the period. Centric Wealth Management acquired a new stake in Deere & Company during the 3rd quarter worth about $2,640,000. Finally, Graham Capital Management L.P. grew its holdings in Deere & Company by 483.3% during the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 14,500 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $400.32 on Friday. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The stock has a market cap of $111.43 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The firm’s 50-day simple moving average is $385.86 and its 200 day simple moving average is $383.05.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the firm earned $6.55 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 27.4 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on DE. Stifel Nicolaus decreased their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. increased their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $433.28.

Check Out Our Latest Analysis on Deere & Company

Deere & Company Company Profile

(Free Report)

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.

Further Reading

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

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