Ninety One UK Ltd Sells 3,082 Shares of Deere & Company $DE

Key Points

• Ninety One UK Ltd trimmed its stake in Deere & Company by 4.6%, selling 3,082 shares and leaving it with 63,312 shares valued at about $29.48 million.
• Analysts are broadly positive with a consensus rating of "Moderate Buy" (16 Buys, 9 Holds) and a consensus price target of $655.45, though recent reports show mixed revisions across brokers.
• Deere recently beat quarterly estimates (EPS $2.42 vs. $1.90 est.; revenue $9.61B vs. $7.50B est.) and announced a quarterly dividend of $1.62 ($6.48 annualized, ~1.1% yield; ex-dividend Mar 31, pay May 8).

Ninety One UK Ltd cut its holdings in Deere & Company (NYSE:DE - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,312 shares of the industrial products company's stock after selling 3,082 shares during the quarter. Ninety One UK Ltd's holdings in Deere & Company were worth $29,476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Werba Rubin Papier Wealth Management boosted its stake in Deere & Company by 35.1% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 901 shares of the industrial products company's stock valued at $420,000 after acquiring an additional 234 shares during the last quarter. Phillips Financial Management LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $448,000. Moss Adams Wealth Advisors LLC boosted its stake in Deere & Company by 16.4% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 687 shares of the industrial products company's stock valued at $321,000 after acquiring an additional 97 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Deere & Company by 35.7% during the fourth quarter. Merit Financial Group LLC now owns 13,296 shares of the industrial products company's stock worth $6,191,000 after purchasing an additional 3,501 shares in the last quarter. Finally, Welch Group LLC boosted its position in shares of Deere & Company by 2.9% during the fourth quarter. Welch Group LLC now owns 27,013 shares of the industrial products company's stock worth $12,576,000 after purchasing an additional 755 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DE. Citigroup reduced their price target on shares of Deere & Company from $675.00 to $625.00 and set a "neutral" rating on the stock in a research report on Monday, March 9th. Wolfe Research lifted their price target on shares of Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 31st. Robert W. Baird reduced their price target on shares of Deere & Company from $675.00 to $580.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Jefferies Financial Group raised shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price target on the stock in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company lifted their price target on shares of Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a research report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $655.45.

Deere & Company Stock Up 1.0%

Shares of DE stock opened at $590.10 on Friday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The firm has a fifty day moving average of $595.10 and a 200-day moving average of $521.74. The company has a market capitalization of $159.39 billion, a price-to-earnings ratio of 33.26, a P/E/G ratio of 2.04 and a beta of 0.98.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period last year, the business posted $3.19 earnings per share. The firm's quarterly revenue was up 17.5% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company's dividend payout ratio is 36.53%.

Deere & 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.

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