Deere & Company $DE Stock Sold by M&G PLC

M&G PLC decreased its holdings in Deere & Company (NYSE:DE) by 32.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,068 shares of the industrial products company’s stock after selling 1,481 shares during the quarter. M&G PLC’s holdings in Deere & Company were worth $2,062,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DE. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Deere & Company during the second quarter valued at $27,000. Kilter Group LLC bought a new stake in shares of Deere & Company during the second quarter worth approximately $29,000. Solstein Capital LLC acquired a new position in Deere & Company in the second quarter valued at approximately $30,000. Orion Capital Management LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $32,000. Finally, Downshift Financial LLC lifted its stake in shares of Deere & Company by 218.8% in the 3rd quarter. Downshift Financial LLC now owns 51 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 35 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson lifted their price objective on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, August 24th. Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday, August 14th. Raymond James Financial lifted their price objective on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Finally, Citigroup boosted their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus target price of $688.10.

Latest Deere & Company News

Investors following DE have been watching these news items:

• Positive Sentiment: ETF activity showed net interest in Deere on Nov. 6: 36 ETFs added shares while 11 reduced holdings, with reported purchases totaling $86.4 million. This may indicate institutional demand, though the data are several days old. ETFs Bought $86.4 Million of Deere
• Neutral Sentiment: Deere attracted increased attention from Zacks.com users, but the report offers no specific new company developments or financial information to explain that interest. Deere Is Attracting Investor Attention
• Negative Sentiment: Deere plans to close two Iowa plants and move some production to other U.S. facilities and Brazil, citing the need to align capacity with demand. The restructuring could improve efficiency over time, but closures and production shifts bring execution and workforce uncertainty. Deere to End Production at Two Iowa Plants

Deere & Company Price Performance

NYSE DE opened at $691.45 on Thursday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The stock has a market cap of $186.43 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 1.95 and a beta of 0.89. The business has a 50 day simple moving average of $669.14 and a 200 day simple moving average of $610.65. Deere & Company has a 52-week low of $455.90 and a 52-week high of $721.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the firm posted $4.75 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Analysts anticipate that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 0.9%. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

About Deere & Company

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.