Marshall Wace LLP Has $428.60 Million Stake in Deere & Company $DE

Marshall Wace LLP grew its position in Deere & Company (NYSE:DE) by 573.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 842,882 shares of the industrial products company’s stock after purchasing an additional 717,808 shares during the period. Deere & Company comprises about 0.5% of Marshall Wace LLP’s portfolio, making the stock its 23rd largest position. Marshall Wace LLP owned about 0.31% of Deere & Company worth $428,597,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Deere & Company in the second quarter worth $1,578,243,000. Nuveen LLC bought a new stake in Deere & Company during the 1st quarter valued at $571,073,000. TD Asset Management Inc increased its holdings in Deere & Company by 132.0% during the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after purchasing an additional 410,636 shares during the period. Voya Investment Management LLC raised its holdings in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after acquiring an additional 361,526 shares in the last quarter. Finally, Laurel Wealth Advisors LLC increased its position in shares of Deere & Company by 50,691.9% during the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock valued at $168,910,000 after buying an additional 331,525 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Evercore ISI restated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Truist Financial upped their target price 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. Royal Bank Of Canada dropped their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research report on Friday, November 28th. Sanford C. Bernstein increased their target price on Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a research report on Thursday, November 13th. Finally, DA Davidson restated a “buy” rating and set a $580.00 price objective on shares of Deere & Company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $518.95.

Deere & Company Stock Up 0.2%

Shares of Deere & Company stock opened at $482.60 on Friday. The firm’s 50-day moving average is $467.58 and its two-hundred day moving average is $489.59. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The stock has a market cap of $130.46 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.77 and a beta of 1.00. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last announced 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 company had revenue of $12.39 billion during 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%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.55 earnings per share. As a group, research analysts expect that Deere & Company will post 19.32 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, February 9th. Investors of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s payout ratio is 35.01%.

Insider Activity

In other news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the transaction, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.