Bank of Montreal Can Grows Stock Position in Deere & Company (NYSE:DE)

Bank of Montreal Can increased its stake in shares of Deere & Company (NYSE:DE) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 376,589 shares of the industrial products company’s stock after purchasing an additional 6,915 shares during the period. Bank of Montreal Can’s holdings in Deere & Company were worth $157,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. Fairscale Capital LLC purchased a new position in Deere & Company during the 2nd quarter worth $26,000. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the second quarter valued at about $37,000. Finally, Centennial Bank AR boosted its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial increased their target price on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $433.00.

Deere & Company Stock Performance

Deere & Company stock opened at $462.81 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a market capitalization of $126.62 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.75 and a beta of 0.93. The stock has a fifty day moving average of $408.35 and a two-hundred day moving average of $386.60. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter last year, the business posted $8.26 EPS. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 21.31 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 22.97%.

Deere & Company Profile

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.