Deere & Company (NYSE:DE) Stock Holdings Raised by Spring Capital Management LLC

Spring Capital Management LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,902 shares of the industrial products company’s stock after purchasing an additional 297 shares during the quarter. Deere & Company accounts for 5.9% of Spring Capital Management LLC’s portfolio, making the stock its 4th largest position. Spring Capital Management LLC’s holdings in Deere & Company were worth $7,558,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DE. Briaud Financial Planning Inc bought a new stake in shares of Deere & Company in the 3rd quarter worth approximately $25,000. Retirement Group LLC grew its holdings in shares of Deere & Company by 264.7% during the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after buying an additional 45 shares in the last quarter. ZRC Wealth Management LLC purchased a new position in Deere & Company in the fourth quarter valued at about $28,000. Worth Asset Management LLC purchased a new position in Deere & Company in the first quarter valued at about $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Morgan Stanley initiated coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Evercore ISI upped their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $431.69.

Deere & Company Stock Performance

NYSE DE opened at $408.50 on Thursday. The company has a market capitalization of $113.71 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.50 and a beta of 1.03. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The stock has a fifty day simple moving average of $379.82 and a 200 day simple moving average of $381.32. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the business posted $6.55 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s dividend payout ratio is 17.12%.

About Deere & Company

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.