Sarasin & Partners LLP Purchases 37,800 Shares of Deere & Company (NYSE:DE)

Sarasin & Partners LLP grew its holdings in Deere & Company (NYSE:DE) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 662,923 shares of the industrial products company’s stock after buying an additional 37,800 shares during the quarter. Deere & Company accounts for approximately 2.7% of Sarasin & Partners LLP’s holdings, making the stock its 14th biggest holding. Sarasin & Partners LLP’s holdings in Deere & Company were worth $272,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the period. ZRC Wealth Management LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the 4th quarter valued at $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company in the 4th quarter worth $29,000. Institutional investors own 68.58% of the company’s stock.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DE shares. Oppenheimer reiterated an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. Citigroup started coverage on shares of Deere & Company in a research report on Wednesday. They issued a “neutral” rating and a $395.00 price target on the stock. TD Cowen boosted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Truist Financial began coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average target price of $431.14.

Deere & Company Stock Performance

NYSE DE traded up $0.10 during trading on Wednesday, reaching $369.57. 401,191 shares of the company’s stock were exchanged, compared to its average volume of 1,458,145. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The stock has a market capitalization of $101.84 billion, a P/E ratio of 11.09, a PEG ratio of 1.52 and a beta of 0.98. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The business has a 50 day moving average price of $386.75 and a 200-day moving average price of $387.08.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter last year, the company posted $9.65 EPS. Deere & Company’s quarterly revenue was down 15.4% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

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.