MBB Public Markets I LLC Purchases New Position in Deere & Company $DE

Key Points

• MBB Public Markets I LLC acquired a new position in Deere & Company by purchasing 665 shares worth approximately $312,000 during the first quarter.
• Deere & Company reported earnings per share of $4.75 for the last quarter, surpassing the consensus estimate of $4.62, despite a 9.0% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.62, to be paid on November 10th, representing an annualized yield of 1.4%.

MBB Public Markets I LLC purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 665 shares of the industrial products company's stock, valued at approximately $312,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the period. Nuveen LLC bought a new stake in shares of Deere & Company in the 1st quarter worth $571,073,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Deere & Company in the 4th quarter worth $149,057,000. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after acquiring an additional 286,253 shares in the last quarter. Finally, Sarasin & Partners LLP grew its position in Deere & Company by 50.4% during the first quarter. Sarasin & Partners LLP now owns 771,866 shares of the industrial products company's stock valued at $362,275,000 after buying an additional 258,522 shares during the period. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DE has been the topic of several recent research reports. Oppenheimer upped their price objective on shares of Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Robert W. Baird dropped their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Finally, Citigroup dropped their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

Deere & Company Stock Down 1.3%

NYSE:DE opened at $475.33 on Wednesday. Deere & Company has a twelve month low of $378.66 and a twelve month high of $533.78. The company has a market cap of $128.49 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 3.09 and a beta of 1.00. The stock has a fifty day simple moving average of $500.10 and a 200-day simple moving average of $490.54. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company posted $6.29 earnings per share. The firm's quarterly revenue was down 9.0% on a year-over-year basis. Analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's dividend payout ratio is currently 33.87%.

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.

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