Deere & Company $DE Shares Purchased by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC raised its position in Deere & Company (NYSE:DE) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,155 shares of the industrial products company’s stock after acquiring an additional 1,182 shares during the quarter. Deere & Company accounts for about 3.5% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 14th largest holding. Minneapolis Portfolio Management Group LLC’s holdings in Deere & Company were worth $30,250,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company in the second quarter valued at $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company in the 2nd quarter worth $27,000. Marshall & Sullivan Inc. WA purchased a new position in Deere & Company in the 2nd quarter valued at about $38,000. Center for Financial Planning Inc. grew its stake in shares of Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its position in shares of Deere & Company by 182.1% during the second quarter. Toth Financial Advisory Corp now owns 79 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE opened at $514.62 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The firm’s 50-day moving average price is $478.44 and its two-hundred day moving average price is $481.95. Deere & Company has a 52-week low of $404.42 and a 52-week high of $533.78. The stock has a market capitalization of $139.18 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.97 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $4.55 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Oppenheimer raised their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, UBS Group reissued a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $524.20.

Insiders Place Their Bets

In other news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 64,578 shares of company stock worth $32,471,682 over the last quarter. 0.29% of the stock is currently owned by company insiders.

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.