Mawer Investment Management Ltd. Raises Stake in Deere & Company (NYSE:DE)

Mawer Investment Management Ltd. lifted its position in shares of Deere & Company (NYSE:DE) by 38.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 619,442 shares of the industrial products company’s stock after buying an additional 173,170 shares during the period. Deere & Company accounts for approximately 1.2% of Mawer Investment Management Ltd.’s portfolio, making the stock its 24th largest holding. Mawer Investment Management Ltd.’s holdings in Deere & Company were worth $262,458,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Townsquare Capital LLC increased its stake in shares of Deere & Company by 26.2% during the 3rd quarter. Townsquare Capital LLC now owns 6,354 shares of the industrial products company’s stock valued at $2,652,000 after acquiring an additional 1,319 shares during the last quarter. Public Sector Pension Investment Board increased its position in Deere & Company by 14.2% during the third quarter. Public Sector Pension Investment Board now owns 10,471 shares of the industrial products company’s stock worth $4,370,000 after purchasing an additional 1,300 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in Deere & Company during the third quarter worth approximately $113,000. Circle Wealth Management LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at $382,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Deere & Company during the 3rd quarter valued at $27,961,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 3.0 %

Shares of DE opened at $465.27 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The stock has a 50-day moving average price of $477.28 and a 200 day moving average price of $439.76. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market capitalization of $126.28 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Citigroup raised their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Finally, StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $460.00.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.