Mystic Asset Management Inc. Grows Position in Deere & Company (NYSE:DE)

Mystic Asset Management Inc. grew its stake in Deere & Company (NYSE:DE) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,149 shares of the industrial products company’s stock after buying an additional 286 shares during the quarter. Mystic Asset Management Inc.’s holdings in Deere & Company were worth $1,758,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DE. Wellington Management Group LLP increased its holdings 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 acquiring an additional 1,782,984 shares in the last quarter. FMR LLC boosted its position in shares of Deere & Company by 27.8% in 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. Raymond James Financial Inc. purchased a new stake in shares of Deere & Company in the fourth quarter worth $296,232,000. Stockbridge Partners LLC raised its position in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in shares of Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after buying an additional 529,833 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.1 %

DE opened at $482.59 on Tuesday. The stock has a 50-day moving average of $467.88 and a 200 day moving average of $434.34. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The firm has a market cap of $130.98 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Evercore ISI increased their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Truist Financial restated a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $460.00.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

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.