Minneapolis Portfolio Management Group LLC Boosts Position in Deere & Company $DE

Minneapolis Portfolio Management Group LLC grew its position in Deere & Company (NYSE:DE) by 1.8% in the third quarter, according to the company in 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 buying an additional 1,182 shares during the quarter. Deere & Company accounts for approximately 3.5% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 14th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Deere & Company were worth $30,250,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

DE has been the topic of several recent research reports. DA Davidson restated a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a research report on Monday, December 1st. Oppenheimer raised their price target on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Truist Financial lifted their price target on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a report on Friday, November 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Finally, Citigroup decreased their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were 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 $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Trading Down 0.1%

Shares of DE opened at $514.62 on Friday. Deere & Company has a twelve month low of $404.42 and a twelve month high of $533.78. The firm has a market capitalization of $139.18 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The stock’s fifty day simple moving average is $478.44 and its 200 day simple moving average is $481.95.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date 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 presently 35.01%.

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.