Grantham Mayo Van Otterloo & Co. LLC Grows Holdings in Deere & Company $DE

Grantham Mayo Van Otterloo & Co. LLC raised its stake in Deere & Company (NYSE:DE) by 393.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,991 shares of the industrial products company’s stock after purchasing an additional 10,359 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Deere & Company were worth $5,940,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DE. Bouchey Financial Group Ltd increased its stake in Deere & Company by 4.4% in the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 21 shares during the last quarter. Blue Chip Partners LLC lifted its stake in Deere & Company by 1.4% during the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock worth $801,000 after purchasing an additional 21 shares during the last quarter. TRUE Private Wealth Advisors boosted its holdings in shares of Deere & Company by 3.0% in the 2nd quarter. TRUE Private Wealth Advisors now owns 744 shares of the industrial products company’s stock worth $378,000 after purchasing an additional 22 shares in the last quarter. Forefront Wealth Partners LLC boosted its holdings in shares of Deere & Company by 4.1% in the 3rd quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 22 shares in the last quarter. Finally, Highline Wealth Partners LLC increased its position in shares of Deere & Company by 24.7% during the 3rd quarter. Highline Wealth Partners LLC now owns 116 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 23 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.8%

Shares of NYSE DE opened at $600.49 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. Deere & Company has a 52 week low of $404.42 and a 52 week high of $674.19. The firm’s fifty day moving average is $554.55 and its 200 day moving average is $500.43. The company has a market cap of $162.20 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.07 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio is 36.53%.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on DE shares. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Sanford C. Bernstein boosted their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Evercore reaffirmed a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Jefferies Financial Group downgraded shares of Deere & Company from a “hold” rating to an “underperform” rating and boosted their price target for the stock from $475.00 to $550.00 in a research note on Monday, February 23rd. Finally, BMO Capital Markets raised their price objective on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $644.70.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.