Sarasin & Partners LLP Sells 79,209 Shares of Deere & Company $DE

Sarasin & Partners LLP trimmed its position in shares of Deere & Company (NYSE:DE) by 20.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,009 shares of the industrial products company’s stock after selling 79,209 shares during the period. Deere & Company makes up approximately 1.5% of Sarasin & Partners LLP’s investment portfolio, making the stock its 28th largest position. Sarasin & Partners LLP’s holdings in Deere & Company were worth $143,865,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Howard Hughes Medical Institute bought a new stake in shares of Deere & Company during the 2nd quarter worth approximately $27,000. Strategic Advocates LLC bought a new position in Deere & Company in the third quarter valued at approximately $25,000. Activest Wealth Management increased its stake in Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 27 shares during the last quarter. Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter valued at approximately $32,000. Finally, United Community Bank raised its position in Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 37 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DE shares. Citigroup cut their target price on Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research note on Monday, March 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Bank of America boosted their price target on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. DA Davidson upped their price objective on Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. 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 analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.70.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $558.81 on Friday. The stock has a market cap of $150.94 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The stock’s 50-day moving average is $572.75 and its 200-day moving average is $506.05. Deere & Company has a 1-year low of $404.42 and a 1-year high of $674.19.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio is 36.53%.

Deere & Company 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.