Mawer Investment Management Ltd. Cuts Stock Position in Deere & Company $DE

Mawer Investment Management Ltd. cut its holdings in Deere & Company (NYSE:DE) by 23.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,487 shares of the industrial products company’s stock after selling 119,811 shares during the quarter. Deere & Company accounts for 1.0% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 29th largest position. Mawer Investment Management Ltd.’s holdings in Deere & Company were worth $178,074,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Cerro Pacific Wealth Advisors LLC increased its position in shares of Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Deere & Company by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock valued at $360,000 after buying an additional 20 shares in the last quarter. Family Legacy Inc. grew its holdings in Deere & Company by 0.3% in the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock valued at $3,675,000 after buying an additional 20 shares in the last quarter. Finally, Evoke Wealth LLC grew its holdings in Deere & Company by 2.5% in the 4th quarter. Evoke Wealth LLC now owns 830 shares of the industrial products company’s stock valued at $388,000 after buying an additional 20 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE opened at $541.30 on Tuesday. The stock’s 50-day moving average price is $571.78 and its 200 day moving average price is $542.99. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market cap of $146.12 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.01 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the company earned $6.64 EPS. Deere & Company’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on DE shares. Raymond James Financial dropped their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their target price on Deere & Company from $550.00 to $560.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Oppenheimer restated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Robert W. Baird dropped their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $638.08.

About Deere & Company

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.