Marex Group plc Buys New Shares in Deere & Company $DE

Marex Group plc purchased a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,487 shares of the industrial products company’s stock, valued at approximately $756,000.

Several other large investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company during the second quarter worth about $25,000. Howard Hughes Medical Institute purchased a new position in Deere & Company during the 2nd quarter worth approximately $27,000. Activest Wealth Management raised its position in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in Deere & Company during the 2nd quarter valued at approximately $38,000. Finally, Center for Financial Planning Inc. boosted its holdings in shares of Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $485.35 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78. The firm has a market capitalization of $131.20 billion, a PE ratio of 26.22, a P/E/G ratio of 1.83 and a beta of 1.00. The business’s 50 day moving average price is $469.02 and its 200-day moving average price is $487.41.

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

Deere & Company Dividend Announcement

The firm also recently disclosed 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 of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio is currently 35.01%.

Analyst Ratings Changes

Several brokerages recently issued reports on DE. Morgan Stanley reissued an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Wells Fargo & Company began coverage on Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective for the company. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. JPMorgan Chase & Co. dropped their target price on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $523.70.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Deere & 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.