Resources Management Corp CT ADV Has $1.37 Million Stake in Deere & Company $DE

Resources Management Corp CT ADV grew its position in Deere & Company (NYSE:DE) by 109.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,949 shares of the industrial products company’s stock after purchasing an additional 1,539 shares during the quarter. Resources Management Corp CT ADV’s holdings in Deere & Company were worth $1,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Norges Bank acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $1,715,633,000. Capital World Investors grew its position in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Deere & Company by 1,725.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after purchasing an additional 1,893,972 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after buying an additional 1,721,239 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Deere & Company by 278.0% in the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock valued at $223,005,000 after buying an additional 358,687 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DE. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research note on Monday, June 1st. Wolfe Research boosted their price target on 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 boosted their price target on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Barclays boosted 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. Finally, Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Trading Down 0.1%

Shares of DE stock opened at $577.05 on Monday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market cap of $155.77 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a 50 day simple moving average of $573.27 and a 200 day simple moving average of $549.31.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the business earned $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 18.13 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 Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Deere & Company Company Profile

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.