Mawer Investment Management Ltd. lessened its stake in Deere & Company (NYSE:DE – Free Report) by 23.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 382,487 shares of the industrial products company’s stock after selling 119,811 shares during the period. Deere & Company accounts for approximately 1.0% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 29th largest holding. Mawer Investment Management Ltd. owned about 0.14% of Deere & Company worth $178,074,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strategic Advocates LLC acquired a new stake in Deere & Company in the third quarter worth about $25,000. Key Capital Management INC acquired a new stake in Deere & Company in the fourth quarter worth about $27,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the fourth quarter worth about $30,000. Wealth Watch Advisors INC acquired a new stake in Deere & Company in the third quarter worth about $32,000. Finally, Tucker Asset Management LLC acquired a new stake in Deere & Company in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Sanford C. Bernstein raised their price target on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Barclays raised their price target on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Raymond James Financial lowered their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a report on Wednesday, April 8th. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $638.08.
Deere & Company Trading Down 0.2%
Shares of NYSE:DE opened at $541.30 on Tuesday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a market capitalization of $146.12 billion, a PE ratio of 30.67, a PEG ratio of 2.01 and a beta of 0.92. The business has a 50 day moving average of $571.78 and a two-hundred day moving average of $542.99. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company 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 company posted $6.64 earnings per share. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 18.08 EPS for the current year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. Deere & Company’s payout ratio is presently 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.
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