Rathbones Group PLC Acquires 5,754 Shares of Deere & Company $DE
by Tristan Rich · The Markets DailyRathbones Group PLC grew its stake in Deere & Company (NYSE:DE – Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 316,393 shares of the industrial products company’s stock after purchasing an additional 5,754 shares during the quarter. Rathbones Group PLC owned about 0.12% of Deere & Company worth $147,303,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in DE. The Manufacturers Life Insurance Company increased its stake in Deere & Company by 30.6% in the second quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock valued at $185,143,000 after purchasing an additional 85,351 shares in the last quarter. Csenge Advisory Group boosted its position in shares of Deere & Company by 84.9% during the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock worth $3,402,000 after purchasing an additional 3,416 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Deere & Company during the second quarter worth $3,615,000. WINTON GROUP Ltd bought a new stake in shares of Deere & Company in the 2nd quarter valued at $4,550,000. Finally, Compagnie Lombard Odier SCmA increased its position in shares of Deere & Company by 66.1% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after buying an additional 10,974 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.29% of the company’s stock.
Deere & Company Price Performance
NYSE DE opened at $575.49 on Monday. The firm’s 50 day moving average is $584.72 and its 200-day moving average is $513.28. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $155.45 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98. Deere & Company has a 12-month low of $404.42 and a 12-month high of $674.19.
Deere & Company (NYSE:DE – Get Free Report) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s payout ratio is currently 36.53%.
Analyst Ratings Changes
DE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. Sanford C. Bernstein increased their target price on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Jefferies Financial Group lowered shares of Deere & Company from a “hold” rating to an “underperform” rating and lifted their price target for the company from $475.00 to $550.00 in a research note on Monday, February 23rd. Wolfe Research increased their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $715.00 price objective on shares of Deere & Company in a research report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.95.
Read Our Latest Research Report on DE
About Deere & Company
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.
Further Reading
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