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

Minneapolis Portfolio Management Group LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,880 shares of the industrial products company’s stock after buying an additional 1,725 shares during the period. Deere & Company accounts for 3.6% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 14th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Deere & Company were worth $31,603,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cary Street Partners Financial LLC boosted its position in shares of Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares in the last quarter. Spectrum Financial Alliance Ltd LLC boosted its position in shares of Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after purchasing an additional 30,553 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in shares of Deere & Company by 66.1% during the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after purchasing an additional 10,974 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after purchasing an additional 2,702 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of Deere & Company by 263.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company’s stock valued at $7,942,000 after purchasing an additional 12,551 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.2%

DE stock opened at $541.30 on Tuesday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business has a fifty day moving average price of $571.78 and a 200-day moving average price of $542.99. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market capitalization of $146.12 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.01 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the business earned $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 18.08 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s payout ratio is currently 36.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DA Davidson dropped their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. UBS Group lifted their price objective on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Sanford C. Bernstein lifted their price objective on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Finally, Wolfe Research lifted their price objective on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $638.08.

Deere & Company 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.