Mawer Investment Management Ltd. Invests $166.94 Million in Deere & Company (NYSE:DE)

Mawer Investment Management Ltd. purchased a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 446,798 shares of the industrial products company’s stock, valued at approximately $166,937,000. Deere & Company comprises approximately 0.8% of Mawer Investment Management Ltd.’s holdings, making the stock its 29th biggest holding. Mawer Investment Management Ltd. owned about 0.16% of Deere & Company as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. True Wealth Design LLC raised its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in Deere & Company during the fourth quarter worth $29,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the fourth quarter worth $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in Deere & Company during the fourth quarter worth $33,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Oppenheimer dropped their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Raymond James began coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $414.11.

Deere & Company Price Performance

NYSE DE opened at $387.23 on Tuesday. The business has a 50 day simple moving average of $369.56 and a 200 day simple moving average of $380.89. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a market cap of $105.95 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.27 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the business earned $10.20 EPS. Analysts anticipate that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Deere & Company 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.