M&T Bank Corp Buys 35,503 Shares of Deere & Company (NYSE:DE)

M&T Bank Corp grew its position in Deere & Company (NYSE:DE) by 29.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,472 shares of the industrial products company’s stock after purchasing an additional 35,503 shares during the quarter. M&T Bank Corp owned approximately 0.06% of Deere & Company worth $61,769,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in DE. Pinnacle Associates Ltd. grew 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 worth $2,141,000 after purchasing an additional 939 shares during the period. Penserra Capital Management LLC increased its position in Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after buying an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board increased its position in Deere & Company by 6.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after buying an additional 900 shares in the last quarter. Summit Asset Management LLC raised its stake in Deere & Company by 24.1% during the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after buying an additional 200 shares during the period. Finally, Centric Wealth Management acquired a new stake in Deere & Company in the third quarter valued at approximately $2,640,000. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on DE. Wells Fargo & Company reduced their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Stifel Nicolaus dropped their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Citigroup decreased their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Evercore ISI raised their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, 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. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

NYSE DE traded up $5.00 during trading hours on Friday, hitting $400.96. The company had a trading volume of 1,626,960 shares, compared to its average volume of 1,337,641. 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 has a market capitalization of $111.61 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The firm has a 50 day simple moving average of $391.45 and a 200 day simple moving average of $383.91.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business earned $6.55 earnings per share. Equities research analysts expect that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. 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 payout ratio is currently 17.12%.

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.