Mawer Investment Management Ltd. Has $280.79 Million Position in Deere & Company (NYSE:DE)

Key Points

• Mawer Investment Management Ltd. reduced its stake in Deere & Company by 3.4%, owning 598,249 shares after selling 21,193 shares in the first quarter.
• Deere & Company reported quarterly earnings of $6.64 EPS, surpassing the estimated $5.72 and showing a 17.9% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.62 per share, representing a 1.27% yield, with the ex-dividend date set for June 30th.

Mawer Investment Management Ltd. trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 598,249 shares of the industrial products company's stock after selling 21,193 shares during the quarter. Deere & Company comprises 1.4% of Mawer Investment Management Ltd.'s portfolio, making the stock its 20th biggest holding. Mawer Investment Management Ltd. owned 0.22% of Deere & Company worth $280,788,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC boosted its holdings in Deere & Company by 8.5% during the first quarter. N.E.W. Advisory Services LLC now owns 635 shares of the industrial products company's stock valued at $298,000 after acquiring an additional 50 shares during the period. Essex Investment Management Co. LLC bought a new stake in Deere & Company during the first quarter valued at about $988,000. Meeder Advisory Services Inc. boosted its holdings in Deere & Company by 9.6% during the first quarter. Meeder Advisory Services Inc. now owns 5,001 shares of the industrial products company's stock valued at $2,347,000 after acquiring an additional 439 shares during the period. SLT Holdings LLC bought a new stake in Deere & Company during the first quarter valued at about $245,000. Finally, Picton Mahoney Asset Management bought a new stake in Deere & Company during the first quarter valued at about $11,104,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE:DE traded down $21.42 during trading on Friday, reaching $502.95. The stock had a trading volume of 1,088,677 shares, compared to its average volume of 1,340,744. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The business's 50-day moving average price is $512.43 and its 200 day moving average price is $486.52. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market capitalization of $136.21 billion, a PE ratio of 24.34, a P/E/G ratio of 3.22 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 earnings per share. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Analysts Set New Price Targets

A number of research firms have issued reports on DE. DA Davidson restated a "buy" rating and set a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Robert W. Baird upped their price target on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Oppenheimer upped their price target on Deere & Company from $555.00 to $560.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $515.50.

Deere & Company Company Profile

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.