Mystic Asset Management Inc. Has $2.23 Million Stock Holdings in Deere & Company (NYSE:DE)

Mystic Asset Management Inc. lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,750 shares of the industrial products company's stock after acquiring an additional 601 shares during the quarter. Mystic Asset Management Inc.'s holdings in Deere & Company were worth $2,230,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter worth $1,244,094,000. GAMMA Investing LLC boosted its position in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company during the fourth quarter valued at $541,437,000. Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Finally, FMR LLC boosted its position in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James Financial lifted their price objective on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. UBS Group reduced their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Barclays boosted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. One investment 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $515.50.

Deere & Company Price Performance

NYSE DE traded up $0.81 during trading on Friday, reaching $499.95. 1,064,545 shares of the company traded hands, compared to its average volume of 1,344,181. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock's 50 day moving average price is $512.70 and its two-hundred day moving average price is $480.12. The company has a market cap of $135.40 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.22 and a beta of 1.08. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company's quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 earnings per share. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is currently 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.