Man Group plc Makes New $31.83 Million Investment in Deere & Company $DE

Man Group plc bought a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, HoldingsChannel reports. The fund bought 50,184 shares of the industrial products company’s stock, valued at approximately $31,833,000.

A number of other large investors have also made changes to their positions in DE. BlackRock Inc. purchased a new position in Deere & Company during the second quarter worth approximately $11,763,504,000. State Street Corp grew its holdings in Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after buying an additional 97,049 shares in the last quarter. Capital World Investors grew its holdings in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after acquiring an additional 158,584 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Deere & Company by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after acquiring an additional 17,269 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $633.36 on Thursday. The stock has a market cap of $170.97 billion, a PE ratio of 35.19, a P/E/G 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 has a twelve month low of $433.00 and a twelve month high of $674.19. The stock has a fifty day simple moving average of $610.13 and a 200-day simple moving average of $592.80.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $4.75 EPS. Equities analysts anticipate that Deere & Company will post 18.09 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DE shares. Barclays boosted their price target on shares of Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird raised their price objective on shares of Deere & Company from $525.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Citigroup lifted their target price on shares of Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.