Mn Services Vermogensbeheer B.V. Has $44.63 Million Stake in Deere & Company $DE

Mn Services Vermogensbeheer B.V. raised its position in shares of Deere & Company (NYSE:DE) by 1.1% in the third quarter, Holdings Channel reports. The fund owned 97,600 shares of the industrial products company’s stock after buying an additional 1,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Deere & Company were worth $44,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the 2nd quarter worth about $25,000. Howard Hughes Medical Institute bought a new position in Deere & Company in the 2nd quarter worth approximately $27,000. Center for Financial Planning Inc. lifted its holdings 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 worth $39,000 after buying an additional 61 shares during the last quarter. Soundwatch Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth approximately $41,000. Finally, Lynch Asset Management Inc. bought a new stake in shares of Deere & Company in the third quarter valued at approximately $46,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.4%

Shares of Deere & Company stock opened at $514.92 on Friday. Deere & Company has a 52-week low of $404.42 and a 52-week high of $533.78. The firm has a market capitalization of $139.58 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00. 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 company’s fifty day moving average price is $482.61 and its two-hundred day moving average price is $482.05.

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

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is currently 35.01%.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 64,578 shares of company stock worth $32,471,682. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DE shares. DA Davidson reaffirmed a “buy” rating and set a $580.00 target price on shares of Deere & Company in a research report on Monday, December 1st. Evercore ISI reissued a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Truist Financial boosted their price objective 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada reduced 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 note on Friday, November 28th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $524.20.

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.