Mawer Investment Management Ltd. Sells 526 Shares of Deere & Company (NYSE:DE)

Mawer Investment Management Ltd. cut its holdings in shares of Deere & Company (NYSE:DE) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 446,272 shares of the industrial products company’s stock after selling 526 shares during the period. Deere & Company accounts for approximately 0.8% of Mawer Investment Management Ltd.’s holdings, making the stock its 29th biggest holding. Mawer Investment Management Ltd.’s holdings in Deere & Company were worth $186,243,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Trustmark National Bank Trust Department bought a new position in Deere & Company in the first quarter valued at approximately $411,000. Rockport Wealth LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $279,000. O Shaughnessy Asset Management LLC increased its stake in shares of Deere & Company by 16.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 20,235 shares of the industrial products company’s stock worth $8,311,000 after purchasing an additional 2,868 shares during the period. UniSuper Management Pty Ltd grew its stake in Deere & Company by 20.1% during the first quarter. UniSuper Management Pty Ltd now owns 23,198 shares of the industrial products company’s stock worth $9,528,000 after buying an additional 3,875 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its position in shares of Deere & Company by 19.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 2,521 shares of the industrial products company’s stock valued at $1,039,000 after buying an additional 413 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE DE traded up $4.09 during trading on Monday, reaching $403.04. The company’s stock had a trading volume of 90,348 shares, compared to its average volume of 1,425,372. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The stock has a market capitalization of $110.27 billion, a PE ratio of 13.61, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a fifty day moving average of $404.03 and a 200 day moving average of $385.64.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup upped their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Bank of America upped their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.