Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 603,961 shares of the industrial products company's stock, valued at approximately $383,111,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Deere & Company at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $30,000. Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $32,000. Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Finally, SHP Wealth Management bought a new position in shares of Deere & Company in the 4th quarter worth $33,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently commented on DE shares. Bank of America dropped their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a report on Friday, May 22nd. DA Davidson restated a "buy" rating and set a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Robert W. Baird decreased their target price on Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday. Finally, Truist Financial increased their price target on shares of Deere & Company from $759.00 to $812.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and an average target price of $641.98.
Get Our Latest Research Report on Deere & Company
Deere & Company Stock Performance
DE stock opened at $600.08 on Tuesday. The business's 50-day moving average price is $603.76 and its two-hundred day moving average price is $588.84. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market cap of $161.99 billion, a PE ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $6.64 earnings per share. As a group, research analysts forecast that Deere & Company will post 18.26 earnings per share for the current year.
Deere & Company Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company's dividend payout ratio is presently 36.71%.
Deere & Company Profile
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Free Report)
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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