M&G PLC Purchases 2,590 Shares of Deere & Company $DE

M&G PLC increased its position in shares of Deere & Company (NYSE:DE) by 45.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,249 shares of the industrial products company’s stock after purchasing an additional 2,590 shares during the period. M&G PLC’s holdings in Deere & Company were worth $3,770,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the second quarter worth about $25,000. Howard Hughes Medical Institute bought a new position in Deere & Company in the 2nd quarter worth approximately $27,000. Activest Wealth Management grew its holdings in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares in the last quarter. Center for Financial Planning Inc. raised its position in shares of Deere & Company by 406.7% during the second 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, United Community Bank lifted its holdings in shares of Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after buying an additional 37 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.5%

Shares of NYSE DE opened at $599.90 on Wednesday. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $626.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The company has a market cap of $162.61 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 2.40 and a beta of 1.02. The business’s 50 day moving average price is $513.04 and its 200-day moving average price is $488.37.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period last year, the company earned $4.55 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DE shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. JPMorgan Chase & Co. cut their price target on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Jefferies Financial Group increased their target price on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Finally, Wolfe Research boosted their price target on shares of Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $524.20.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the transaction, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,578 shares of company stock valued at $32,471,682 in the last quarter. 0.29% of the stock is currently owned by company insiders.

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.