Mmbg Investment Advisors CO. Acquires 225 Shares of Deere & Company (NYSE:DE)

Mmbg Investment Advisors CO. grew its holdings in shares of Deere & Company (NYSE:DE) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,425 shares of the industrial products company’s stock after acquiring an additional 225 shares during the period. Mmbg Investment Advisors CO.’s holdings in Deere & Company were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Deere & Company during the fourth quarter worth about $1,244,094,000. Castlekeep Investment Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $541,437,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. FMR LLC increased its position in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Deere & Company during the fourth quarter valued at approximately $296,232,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Truist Financial reiterated a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Citigroup reduced their target price on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $460.21.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $492.33 on Monday. The company has a 50-day simple moving average of $465.80 and a two-hundred day simple moving average of $451.49. 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 has a one year low of $340.20 and a one year high of $515.05. The firm has a market capitalization of $133.63 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Deere & 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.