Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Deere & Company (NYSE:DE) by 7.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 41,188 shares of the industrial products company’s stock after acquiring an additional 2,842 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Deere & Company were worth $6,583,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its position in Deere & Company by 0.3% during the 4th quarter. Whittier Trust Co. now owns 24,423 shares of the industrial products company’s stock valued at $3,643,000 after purchasing an additional 62 shares during the period. Howland Capital Management LLC raised its position in shares of Deere & Company by 0.4% during the fourth quarter. Howland Capital Management LLC now owns 15,712 shares of the industrial products company’s stock worth $2,344,000 after purchasing an additional 66 shares during the period. Sowell Financial Services LLC raised its position in Deere & Company by 2.2% during the fourth quarter. Sowell Financial Services LLC now owns 3,060 shares of the industrial products company’s stock valued at $457,000 after buying an additional 66 shares during the period. First Manhattan Co. raised its position in Deere & Company by 4.2% during the first quarter. First Manhattan Co. now owns 1,699 shares of the industrial products company’s stock valued at $271,000 after buying an additional 68 shares during the period. Finally, Enterprise Financial Services Corp raised its position in Deere & Company by 2.5% during the first quarter. Enterprise Financial Services Corp now owns 2,838 shares of the industrial products company’s stock valued at $454,000 after buying an additional 68 shares during the period. 68.93% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on DE. UBS Group assumed coverage on Deere & Company in a research report on Tuesday, April 23rd. They issued a “neutral” rating and a $238.00 target price on the stock. Macquarie initiated coverage on Deere & Company in a report on Wednesday, May 1st. They issued an “outperform” rating for the company. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $173.00 to $170.00 in a report on Wednesday, February 13th. Zacks Investment Research cut Deere & Company from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Finally, Credit Suisse Group decreased their price objective on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. Deere & Company has a consensus rating of “Hold” and a consensus price target of $166.50.
Shares of DE stock traded down $0.11 during trading hours on Wednesday, hitting $138.78. 2,475,535 shares of the company were exchanged, compared to its average volume of 2,073,917. The firm has a market cap of $44.24 billion, a P/E ratio of 14.78, a PEG ratio of 1.42 and a beta of 0.90. Deere & Company has a 52-week low of $128.32 and a 52-week high of $169.99. The company has a quick ratio of 1.68, a current ratio of 1.98 and a debt-to-equity ratio of 2.46.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). The company had revenue of $10.27 billion for the quarter, compared to the consensus estimate of $10.19 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.14 earnings per share. As a group, equities analysts expect that Deere & Company will post 11.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Thursday, March 28th. Deere & Company’s payout ratio is 32.37%.
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Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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