Minneapolis Portfolio Management Group LLC Acquires 1,318 Shares of Deere & Company (NYSE:DE)

Minneapolis Portfolio Management Group LLC boosted its stake in Deere & Company (NYSE:DE - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,763 shares of the industrial products company's stock after purchasing an additional 1,318 shares during the quarter. Deere & Company makes up 3.7% of Minneapolis Portfolio Management Group LLC's investment portfolio, making the stock its 12th largest position. Minneapolis Portfolio Management Group LLC's holdings in Deere & Company were worth $27,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Robertson Stephens Wealth Management LLC increased its holdings in Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after buying an additional 22 shares in the last quarter. DLK Investment Management LLC boosted its holdings in Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock worth $3,479,000 after purchasing an additional 24 shares during the last quarter. Quent Capital LLC grew its position in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock worth $377,000 after purchasing an additional 24 shares during the period. Valeo Financial Advisors LLC raised its stake in Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock valued at $3,398,000 after buying an additional 24 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in shares of Deere & Company by 4.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock valued at $236,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Deere & Company Price Performance

DE stock traded down $0.26 during trading on Tuesday, hitting $479.70. 808,216 shares of the company's stock traded hands, compared to its average volume of 1,360,837. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market capitalization of $130.20 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01. The business has a fifty day simple moving average of $475.21 and a 200 day simple moving average of $438.25. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. StockNews.com lowered Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Robert W. Baird reiterated a "neutral" rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. Citigroup upped their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Evercore ISI increased their target price on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $460.00.

About Deere & Company

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.