J.P. Marvel Investment Advisors LLC Has $11.77 Million Stock Position in Deere & Company (NYSE:DE)

J.P. Marvel Investment Advisors LLC increased its position in shares of Deere & Company (NYSE:DE) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,784 shares of the industrial products company’s stock after buying an additional 740 shares during the quarter. Deere & Company comprises about 1.9% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 15th biggest position. J.P. Marvel Investment Advisors LLC’s holdings in Deere & Company were worth $11,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DE. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter worth approximately $32,000. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $34,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock opened at $480.17 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The business has a fifty day moving average price of $446.95 and a 200-day moving average price of $416.21. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a market capitalization of $130.77 billion, a P/E ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, equities research analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Ratings Changes

Several analysts have recently commented on DE shares. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup increased their price target on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $448.72.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.