Spring Capital Management LLC Boosts Stake in Deere & Company (NYSE:DE)

Spring Capital Management LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,093 shares of the industrial products company’s stock after purchasing an additional 579 shares during the period. Deere & Company comprises 4.8% of Spring Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Spring Capital Management LLC’s holdings in Deere & Company were worth $8,090,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC grew its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the last quarter. Carret Asset Management LLC grew its stake in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares during the last quarter. Round Rock Advisors LLC increased its holdings in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in shares of Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 25 shares during the last quarter. Finally, Centaurus Financial Inc. raised its stake in shares of Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 26 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup lowered their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday. Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Trading Up 4.0 %

NYSE DE opened at $456.57 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The stock has a 50-day simple moving average of $430.22 and a 200 day simple moving average of $401.33. 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 company has a market capitalization of $124.00 billion, a PE ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS 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 during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the business posted $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. Deere & Company’s payout ratio is 25.31%.

Deere & Company 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.