Mackenzie Financial Corp Has $15.01 Million Stock Holdings in Deere & Company (NYSE:DE)

Key Points

• Mackenzie Financial Corp increased its holdings in Deere & Company by 9.6% in Q1, bringing its total shares to 31,969, valued at approximately $15 million.
• Analysts have set a new average price target of $515.50 for Deere & Company, with 12 hold ratings and 8 buy ratings among them.
• Deere & Company announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.28%, set to be paid on August 8th.

Mackenzie Financial Corp grew its position in Deere & Company (NYSE:DE - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,969 shares of the industrial products company's stock after buying an additional 2,791 shares during the quarter. Mackenzie Financial Corp's holdings in Deere & Company were worth $15,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Brighton Jones LLC boosted its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Deere & Company by 211.9% during the fourth quarter. Meeder Asset Management Inc. now owns 131 shares of the industrial products company's stock worth $56,000 after purchasing an additional 89 shares during the period. Meeder Advisory Services Inc. lifted its stake in Deere & Company by 10.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 4,562 shares of the industrial products company's stock valued at $1,933,000 after acquiring an additional 415 shares during the last quarter. RFG Bristol Wealth Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth approximately $539,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Deere & Company in the fourth quarter worth approximately $28,454,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Raymond James Financial upped their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. UBS Group decreased their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Bank of America upped their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $515.50.

Deere & Company Stock Performance

DE stock traded down $23.43 on Friday, reaching $500.94. 1,623,054 shares of the company were exchanged, compared to its average volume of 1,072,546. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock's fifty day moving average price is $512.25 and its 200 day moving average price is $486.99. The firm has a market capitalization of $135.67 billion, a PE ratio of 24.24, a PEG ratio of 3.32 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company's revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.53 earnings per share. On average, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

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.