Mann Financial Group Inc. Takes Position in Deere & Company $DE

Mann Financial Group Inc. purchased a new stake in shares of Deere & Company (NYSE:DE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,328 shares of the industrial products company’s stock, valued at approximately $607,000. Deere & Company makes up about 0.6% of Mann Financial Group Inc.’s investment portfolio, making the stock its 15th biggest position.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after purchasing an additional 309,081 shares during the last quarter. State Street Corp raised its holdings in Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after buying an additional 64,262 shares during the period. Geode Capital Management LLC lifted its position in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after buying an additional 111,627 shares during the last quarter. Norges Bank purchased a new position in Deere & Company during the second quarter worth $1,578,243,000. Finally, Fisher Asset Management LLC increased its position in Deere & Company by 5.5% during the third quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock valued at $1,244,670,000 after acquiring an additional 141,790 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $613.93 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The stock’s fifty day moving average price is $547.07 and its 200-day moving average price is $498.18. The firm has a market cap of $165.83 billion, a P/E ratio of 34.61, a P/E/G ratio of 2.19 and a beta of 0.96. Deere & Company has a 12 month low of $404.42 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the prior year, the business earned $3.19 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $715.00 price target on shares of Deere & Company in a research note on Friday, February 20th. Bank of America increased their price target on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. UBS Group boosted their price objective on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Royal Bank Of Canada increased their target price on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $647.20.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cory J. Reed sold 12,000 shares of the firm’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 sale, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. The trade was a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is currently owned by company insiders.

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.