Meiji Yasuda Asset Management Co Ltd. lessened its position in shares of Deere & Company (NYSE:DE) by 17.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,195 shares of the industrial products company’s stock after selling 890 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Deere & Company were worth $671,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Destination Wealth Management increased its stake in shares of Deere & Company by 20,500.0% during the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 205 shares during the last quarter. Private Ocean LLC boosted its holdings in Deere & Company by 560.0% in the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Ellis Investment Partners LLC bought a new stake in Deere & Company in the 1st quarter valued at about $33,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Deere & Company by 14,550.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 5,179,386 shares during the period. Finally, Athena Capital Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.
Shares of DE opened at $149.81 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The company has a market cap of $47.17 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.85 and a beta of 1.02. Deere & Company has a 1 year low of $128.32 and a 1 year high of $169.99.
Deere & Company (NYSE:DE) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $10.19 billion. Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.14 earnings per share. Analysts forecast that Deere & Company will post 10.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $3.04 annualized dividend and a dividend yield of 2.03%. Deere & Company’s dividend payout ratio is currently 32.37%.
Several brokerages have issued reports on DE. Credit Suisse Group decreased their price target on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a research report on Tuesday, February 19th. DZ Bank lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Argus raised their price objective on shares of Deere & Company to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. UBS Group initiated coverage on shares of Deere & Company in a research note on Tuesday, April 23rd. They issued a “neutral” rating and a $238.00 price objective on the stock. Finally, Macquarie set a $132.00 target price on shares of Deere & Company and gave the company a “hold” rating in a report on Monday, May 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $162.29.
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About Deere & Company
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.
Read More: Intrinsic Value
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