The Manufacturers Life Insurance Company Sells 151,870 Shares of Deere & Company $DE

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Deere & Company by 35.3%, selling 151,870 shares during the first quarter, and now holds 0.10% of the company valued at approximately $130.8 million.
• Analysts have mixed opinions on Deere, with Robert W. Baird lowering the target price from $520 to $488, while others maintain a "buy" or "strong buy" rating, reflecting a consensus rating of Moderate Buy.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, with a 1.4% yield and an ex-dividend date set for September 30th.

The Manufacturers Life Insurance Company lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 35.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,752 shares of the industrial products company's stock after selling 151,870 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Deere & Company worth $130,832,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Chicago Partners Investment Group LLC increased its stake in Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 21 shares in the last quarter. Tyler Stone Wealth Management boosted its holdings in Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after acquiring an additional 21 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after acquiring an additional 22 shares during the last quarter. First Bancorp Inc ME boosted its holdings in Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after acquiring an additional 23 shares during the last quarter. Finally, Leisure Capital Management boosted its holdings in Deere & Company by 0.8% during the 1st quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock worth $1,355,000 after acquiring an additional 23 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DE. JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a report on Tuesday. Oppenheimer lifted their price objective on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Finally, Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

Deere & Company Stock Performance

NYSE DE traded down $2.46 during trading on Tuesday, hitting $476.18. 1,600,596 shares of the company's stock traded hands, compared to its average volume of 1,359,192. The stock has a market capitalization of $128.73 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.07 and a beta of 1.00. Deere & Company has a 12-month low of $378.66 and a 12-month high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The business has a 50 day moving average of $504.33 and a 200-day moving average of $491.37.

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

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio is 33.87%.

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.