Mackenzie Financial Corp Purchases 3,536 Shares of Deere & Company (NYSE:DE)

Mackenzie Financial Corp increased its position in Deere & Company (NYSE:DE) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,381 shares of the industrial products company’s stock after purchasing an additional 3,536 shares during the quarter. Mackenzie Financial Corp’s holdings in Deere & Company were worth $62,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Morgan Stanley lifted its holdings 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 buying an additional 65,006 shares during the period. FMR LLC lifted its holdings in Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after buying an additional 269,571 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after buying an additional 3,216,801 shares during the period. Norges Bank purchased a new stake in Deere & Company during the fourth quarter worth $1,326,177,000. Finally, Northern Trust Corp lifted its holdings in Deere & Company by 2.5% during the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after buying an additional 73,601 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $393.11 on Wednesday. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $109.43 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The stock’s 50-day moving average price is $384.95 and its 200-day moving average price is $382.56.

Deere & Company (NYSE:DE) last posted its earnings results 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. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same period last year, the firm earned $6.55 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI upped their target price on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Stifel Nicolaus decreased their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. 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. Finally, Wells Fargo & Company decreased their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company 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.