Cambridge Trust Co. Grows Position in Deere & Company (NYSE:DE)

Cambridge Trust Co. increased its holdings in shares of Deere & Company (NYSE:DE) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,253 shares of the industrial products company’s stock after purchasing an additional 100 shares during the quarter. Cambridge Trust Co.’s holdings in Deere & Company were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. RB Capital Management LLC grew its stake in shares of Deere & Company by 5.2% in the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after buying an additional 81 shares in the last quarter. Bornite Capital Management LP purchased a new stake in Deere & Company during the first quarter worth about $14,541,000. Retirement Income Solutions Inc acquired a new stake in shares of Deere & Company during the first quarter worth about $229,000. Sequoia Financial Advisors LLC boosted its stake in shares of Deere & Company by 27.1% in the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after purchasing an additional 521 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Deere & Company by 32.4% in the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after purchasing an additional 27,985 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.9 %

Shares of Deere & Company stock opened at $400.60 on Friday. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a market cap of $111.51 billion, a P/E ratio of 11.67, a PEG ratio of 1.49 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The firm has a fifty day moving average of $385.47 and a two-hundred day moving average of $382.79.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.55 earnings per share. On average, analysts forecast that Deere & Company will post 27.39 earnings per share for the current year.

Deere & Company Dividend Announcement

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 paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Evercore ISI boosted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Wells Fargo & Company decreased their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Finally, Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & 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.