TCW Group Inc. Grows Stake in Deere & Company (NYSE:DE)

TCW Group Inc. grew its holdings in Deere & Company (NYSE:DEFree Report) by 21.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 56,900 shares of the industrial products company’s stock after acquiring an additional 10,036 shares during the quarter. TCW Group Inc.’s holdings in Deere & Company were worth $22,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Finally, Bfsg LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.3 %

DE stock traded down $4.78 during trading on Friday, reaching $374.46. 1,031,801 shares of the stock traded hands, compared to its average volume of 1,470,243. The business’s 50 day moving average price is $399.93 and its 200-day moving average price is $386.42. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The firm has a market capitalization of $104.23 billion, a PE ratio of 11.31, a P/E/G ratio of 1.54 and a beta of 1.04.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the previous year, the business earned $9.65 earnings per share. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 25.8 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

DE has been the topic of a number of analyst reports. Citigroup decreased their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. decreased their price target on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. TD Cowen lifted their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Finally, Daiwa Capital Markets lifted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.92.

View Our Latest Stock Report on Deere & Company

Deere & 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.

Featured Stories

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

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.