Ninety One UK Ltd Sells 18,887 Shares of Deere & Company (NYSE:DE)

Ninety One UK Ltd lessened its stake in shares of Deere & Company (NYSE:DE) by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,759 shares of the industrial products company’s stock after selling 18,887 shares during the period. Ninety One UK Ltd’s holdings in Deere & Company were worth $34,292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. RB Capital Management LLC lifted its holdings in shares of Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after acquiring an additional 81 shares during the last quarter. Bornite Capital Management LP bought a new position in shares of Deere & Company in the 1st quarter valued at about $14,541,000. Retirement Income Solutions Inc bought a new position in shares of Deere & Company in the 1st quarter valued at about $229,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after acquiring an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after acquiring an additional 27,985 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $400.87 on Friday. The firm has a market cap of $111.59 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.49 and a beta of 1.04. The company’s 50 day moving average is $385.47 and its 200 day moving average is $382.79. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $6.55 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 27.39 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Citigroup decreased their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Truist Financial started coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.