Man Group plc Purchases New Shares in Deere & Company $DE

Man Group plc acquired a new stake in Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,184 shares of the industrial products company’s stock, valued at approximately $31,833,000.

A number of other large investors have also modified their holdings of DE. Anchyra Partners LLC grew its position in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after acquiring an additional 17 shares during the period. William B. Walkup & Associates Inc. increased its stake in shares of Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after purchasing an additional 17 shares in the last quarter. Advisortrust Partners LLC raised its holdings in Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC raised its holdings in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its position in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $633.36 on Thursday. The stock has a 50 day moving average of $610.13 and a two-hundred day moving average of $592.80. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm has a market cap of $170.97 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same period in the previous year, the company posted $4.75 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. On average, analysts expect that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DE. UBS Group dropped their price objective on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Seaport Research Partners set a $570.00 target price on Deere & Company in a research report on Friday, August 14th. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Barclays boosted their price target on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday. Finally, DA Davidson upped their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $653.48.

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.