Sarasin & Partners LLP Has $143.87 Million Position in Deere & Company $DE

Sarasin & Partners LLP lessened its holdings in Deere & Company (NYSE:DE) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 309,009 shares of the industrial products company’s stock after selling 79,209 shares during the period. Deere & Company accounts for 1.5% of Sarasin & Partners LLP’s holdings, making the stock its 28th biggest position. Sarasin & Partners LLP owned about 0.11% of Deere & Company worth $143,865,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new position in shares of Deere & Company in the third quarter valued at $25,000. Howard Hughes Medical Institute acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $27,000. Activest Wealth Management lifted its stake in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after buying an additional 27 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the 3rd quarter worth about $32,000. Finally, Soundwatch Capital LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DE. Raymond James Financial reissued an “outperform” rating and issued a $765.00 price target on shares of Deere & Company in a report on Monday, February 23rd. Jefferies Financial Group cut Deere & Company from a “hold” rating to an “underperform” rating and boosted their price objective for the stock from $475.00 to $550.00 in a report on Monday, February 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Wolfe Research increased their target price on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Finally, Wells Fargo & Company lifted their price target on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $644.70.

Insider Activity at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $558.81 on Friday. Deere & Company has a 52 week low of $404.42 and a 52 week high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The firm’s 50-day simple moving average is $572.75 and its 200 day simple moving average is $506.05. The firm has a market cap of $150.94 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 1.96 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s payout ratio is 36.53%.

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.