Deere & Company $DE Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Deere & Company (NYSE:DE) by 18.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,858 shares of the industrial products company’s stock after selling 42,577 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Deere & Company worth $108,637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. KCM Investment Advisors LLC grew its holdings in Deere & Company by 2.2% in the first quarter. KCM Investment Advisors LLC now owns 8,025 shares of the industrial products company’s stock valued at $4,521,000 after purchasing an additional 171 shares during the period. Glen Eagle Advisors LLC raised its stake in Deere & Company by 2.3% during the first quarter. Glen Eagle Advisors LLC now owns 2,678 shares of the industrial products company’s stock worth $1,509,000 after purchasing an additional 59 shares during the period. Excelsior Advisor Network LLC boosted its holdings in shares of Deere & Company by 83.3% in the 1st quarter. Excelsior Advisor Network LLC now owns 1,386 shares of the industrial products company’s stock valued at $781,000 after purchasing an additional 630 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Deere & Company by 9.6% in the 1st quarter. Quantinno Capital Management LP now owns 146,849 shares of the industrial products company’s stock valued at $82,720,000 after purchasing an additional 12,910 shares during the last quarter. Finally, Gateway Wealth Partners LLC grew its stake in shares of Deere & Company by 139.7% during the 1st quarter. Gateway Wealth Partners LLC now owns 5,048 shares of the industrial products company’s stock valued at $2,844,000 after buying an additional 2,942 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $640.78 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market cap of $172.97 billion, a PE ratio of 36.30, a P/E/G ratio of 2.64 and a beta of 0.89. The company’s fifty day simple moving average is $587.92 and its 200-day simple moving average is $579.01. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the company earned $6.64 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Deere & Company will post 18.28 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Analyst Ratings Changes

A number of research firms have recently commented on DE. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Robert W. Baird reduced their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Citigroup boosted their price target on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Finally, Wolfe Research raised their price objective on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & 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.