M&G Investment Management Ltd. Reduces Stock Position in Deere & Company (NYSE:DE)

M&G Investment Management Ltd. trimmed its position in Deere & Company (NYSE:DEGet Rating) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 641 shares of the industrial products company’s stock after selling 35 shares during the quarter. M&G Investment Management Ltd.’s holdings in Deere & Company were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. FMR LLC lifted its holdings in shares of Deere & Company by 4.9% in the 2nd quarter. FMR LLC now owns 5,108,362 shares of the industrial products company’s stock worth $1,529,801,000 after buying an additional 240,210 shares during the period. Parnassus Investments LLC lifted its holdings in shares of Deere & Company by 2.2% in the 2nd quarter. Parnassus Investments LLC now owns 3,686,964 shares of the industrial products company’s stock worth $1,104,135,000 after buying an additional 80,329 shares during the period. Legal & General Group Plc lifted its holdings in shares of Deere & Company by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 2,025,822 shares of the industrial products company’s stock worth $606,673,000 after buying an additional 9,039 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Deere & Company by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,348,614 shares of the industrial products company’s stock worth $560,296,000 after buying an additional 29,757 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in shares of Deere & Company by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 1,347,049 shares of the industrial products company’s stock worth $449,766,000 after buying an additional 11,851 shares during the period. 75.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Marc A. Howze sold 10,910 shares of the company’s stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $442.79, for a total value of $4,830,838.90. Following the sale, the chairman now owns 17,321 shares in the company, valued at $7,669,565.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ryan D. Campbell sold 11,429 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $439.69, for a total value of $5,025,217.01. Following the sale, the insider now owns 13,147 shares in the company, valued at $5,780,604.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marc A. Howze sold 10,910 shares of the company’s stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $442.79, for a total value of $4,830,838.90. Following the completion of the sale, the chairman now owns 17,321 shares in the company, valued at approximately $7,669,565.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,339 shares of company stock valued at $13,872,361. Company insiders own 0.24% of the company’s stock.

Deere & Company Stock Up 0.8 %

Shares of DE stock opened at $439.63 on Monday. The stock’s 50-day simple moving average is $428.40 and its 200-day simple moving average is $377.89. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.72 and a current ratio of 1.98. The firm has a market capitalization of $130.64 billion, a PE ratio of 18.84, a P/E/G ratio of 1.32 and a beta of 1.08. Deere & Company has a fifty-two week low of $283.81 and a fifty-two week high of $448.40.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings data on Wednesday, November 23rd. The industrial products company reported $7.44 earnings per share for the quarter, beating analysts’ consensus estimates of $7.08 by $0.36. The business had revenue of $14.35 billion for the quarter, compared to analyst estimates of $13.64 billion. Deere & Company had a return on equity of 37.52% and a net margin of 13.56%. Equities analysts expect that Deere & Company will post 27.85 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Friday, December 30th will be issued a $1.20 dividend. The ex-dividend date is Thursday, December 29th. This is a positive change from Deere & Company’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.09%. Deere & Company’s dividend payout ratio is currently 20.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DE shares. Evercore ISI upped their target price on Deere & Company from $463.00 to $513.00 in a report on Monday, November 28th. Bank of America upped their price objective on Deere & Company from $444.00 to $478.00 in a research note on Friday, November 25th. Oppenheimer upped their price objective on Deere & Company from $415.00 to $492.00 in a research note on Wednesday, November 23rd. StockNews.com upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 11th. Finally, BMO Capital Markets upped their price objective on Deere & Company from $375.00 to $450.00 and gave the stock a “market perform” rating in a research note on Monday, November 28th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $459.05.

Deere & Company Company Profile

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Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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