Marion Wealth Management Increases Stock Position in Deere & Company (NYSE:DE)

Marion Wealth Management increased its stake in Deere & Company (NYSE:DE) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,864 shares of the industrial products company’s stock after purchasing an additional 253 shares during the quarter. Marion Wealth Management’s holdings in Deere & Company were worth $1,637,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DE. Everence Capital Management Inc. lifted its holdings in shares of Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC grew its stake in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Toronto Dominion Bank increased its holdings in Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in shares of Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Oppenheimer raised their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Truist Financial increased their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays raised their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $443.94.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $21.60 during trading on Monday, reaching $430.17. 1,988,654 shares of the company’s stock traded hands, compared to its average volume of 1,245,684. The stock has a market capitalization of $117.69 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The company has a 50 day moving average of $427.99 and a 200-day moving average of $400.08. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the firm earned $8.26 EPS. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, equities analysts expect that Deere & Company will post 19.41 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. Deere & Company’s payout ratio is 22.97%.

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.