Minneapolis Portfolio Management Group LLC Purchases 1,318 Shares of Deere & Company (NYSE:DE)

Minneapolis Portfolio Management Group LLC boosted its position in shares of Deere & Company (NYSE:DE) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,763 shares of the industrial products company’s stock after purchasing an additional 1,318 shares during the period. Deere & Company comprises about 3.7% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 12th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Deere & Company were worth $27,864,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC lifted its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $32,000. YANKCOM Partnership acquired a new stake in Deere & Company in the 4th quarter valued at about $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $35,000. Finally, Continuum Advisory LLC increased its position in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DE shares. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. Robert W. Baird restated a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Citigroup raised their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $460.00.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 1.1 %

Deere & Company stock opened at $471.90 on Monday. The company’s 50 day simple moving average is $473.25 and its 200 day simple moving average is $436.88. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a market capitalization of $128.08 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Deere & Company Company Profile

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.