Manning & Napier Advisors LLC Sells 3,731 Shares of Deere & Company (NYSE:DE)

Manning & Napier Advisors LLC lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,626 shares of the industrial products company's stock after selling 3,731 shares during the period. Manning & Napier Advisors LLC's holdings in Deere & Company were worth $25,264,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Ascent Group LLC increased its position in shares of Deere & Company by 11.6% during the second quarter. Ascent Group LLC now owns 1,620 shares of the industrial products company's stock valued at $605,000 after buying an additional 168 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in Deere & Company in the 2nd quarter worth approximately $615,000. NewEdge Advisors LLC boosted its holdings in Deere & Company by 2.6% in the 2nd quarter. NewEdge Advisors LLC now owns 19,150 shares of the industrial products company's stock valued at $7,155,000 after purchasing an additional 493 shares during the period. Kimelman & Baird LLC bought a new position in shares of Deere & Company in the second quarter worth $102,000. Finally, EP Wealth Advisors LLC raised its position in shares of Deere & Company by 76.1% in the second quarter. EP Wealth Advisors LLC now owns 5,069 shares of the industrial products company's stock worth $1,894,000 after buying an additional 2,190 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 0.4 %

Shares of NYSE DE traded up $1.75 during trading hours on Thursday, hitting $479.91. The company's stock had a trading volume of 1,122,238 shares, compared to its average volume of 1,382,266. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The stock has a market cap of $130.70 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The business has a 50-day simple moving average of $443.22 and a 200-day simple moving average of $408.60.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts' consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm's revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 earnings per share. On average, analysts anticipate that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's payout ratio is currently 25.31%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on Deere & Company from $450.00 to $470.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $444.50.

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.