V. M. Manning & CO. Inc. Buys Shares of 1,994 Deere & Company $DE

V. M. Manning & CO. Inc. purchased a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 1,994 shares of the industrial products company’s stock, valued at approximately $953,000. Deere & Company makes up 1.1% of V. M. Manning & CO. Inc.’s portfolio, making the stock its 22nd largest holding.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Deere & Company during the 2nd quarter worth approximately $1,578,243,000. Marshall Wace LLP boosted its holdings in Deere & Company by 573.9% in the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock valued at $428,597,000 after purchasing an additional 717,808 shares during the period. TD Asset Management Inc grew its position in shares of Deere & Company by 132.0% during the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after purchasing an additional 410,636 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares during the period. Finally, Laurel Wealth Advisors LLC increased its holdings in shares of Deere & Company by 50,691.9% in the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after purchasing an additional 331,525 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares in the company, valued at $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Deere & Company Stock Performance

NYSE:DE opened at $485.35 on Monday. The company has a market capitalization of $131.20 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.83 and a beta of 1.00. The business has a 50 day moving average of $469.02 and a 200 day moving average of $487.41. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $4.55 earnings per share. On average, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 35.01%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group reissued a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Robert W. Baird decreased their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Royal Bank Of Canada lowered their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research note on Friday, November 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $523.70.

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.