Massmutual Trust Co. FSB ADV Increases Position in Deere & Company (NYSE:DE)

Massmutual Trust Co. FSB ADV grew its holdings in Deere & Company (NYSE:DE) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,466 shares of the industrial products company’s stock after purchasing an additional 105 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Deere & Company were worth $3,888,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Morgan Stanley increased its position in Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after purchasing an additional 65,006 shares during the last quarter. Parnassus Investments LLC increased its holdings in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the last quarter. Norges Bank acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $1,248,036,000. Northern Trust Corp raised its position in shares of Deere & Company by 2.5% during the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after buying an additional 73,601 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after acquiring an additional 160,369 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.3 %

DE stock opened at $381.50 on Friday. The company’s 50 day moving average is $387.98 and its two-hundred day moving average is $386.55. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a market cap of $105.13 billion, a P/E ratio of 11.48, a PEG ratio of 1.54 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $9.65 earnings per share. Research analysts expect that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Morgan Stanley increased their target price on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Oppenheimer reaffirmed an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Finally, Daiwa Capital Markets lifted their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $433.36.

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.