Minneapolis Portfolio Management Group LLC Has $26.90 Million Stock Holdings in Deere & Company (NYSE:DE)

Minneapolis Portfolio Management Group LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,445 shares of the industrial products company’s stock after selling 1,144 shares during the period. Deere & Company comprises approximately 3.5% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 17th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Deere & Company were worth $26,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DE. Fairscale Capital LLC bought a new position in shares of Deere & Company during the 2nd quarter valued at $26,000. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth about $37,000. Finally, Centennial Bank AR increased its holdings in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Morgan Stanley decreased their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $4.27 during trading on Friday, hitting $400.42. 1,522,533 shares of the stock were exchanged, compared to its average volume of 831,506. The company has a market capitalization of $109.55 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company’s fifty day simple moving average is $400.85 and its 200-day simple moving average is $385.49.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.20 earnings per share. Sell-side analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s payout ratio is currently 20.06%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.