Madison Asset Management LLC Has $45.69 Million Stock Holdings in Deere & Company $DE

Madison Asset Management LLC decreased its holdings in Deere & Company (NYSE:DE) by 5.3% during the 4th quarter, HoldingsChannel reports. The firm owned 98,137 shares of the industrial products company’s stock after selling 5,523 shares during the quarter. Madison Asset Management LLC’s holdings in Deere & Company were worth $45,690,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Strategic Advocates LLC acquired a new stake in Deere & Company in the third quarter valued at about $25,000. Key Capital Management INC acquired a new position in Deere & Company during the fourth quarter worth about $27,000. McIlrath & Eck LLC acquired a new position in Deere & Company during the fourth quarter worth about $30,000. Activest Wealth Management lifted its holdings in shares of Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 27 shares during the last quarter. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.1%

Shares of NYSE:DE opened at $589.14 on Wednesday. The firm has a market cap of $159.13 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.05 and a beta of 0.96. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The business has a fifty day simple moving average of $583.87 and a 200 day simple moving average of $535.34. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts predict that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Deere & Company’s dividend payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wolfe Research increased their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. BMO Capital Markets upped their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Barclays increased their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Argus raised their price objective on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Truist Financial boosted their price objective on Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $655.45.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.