Deere & Company $DE Shares Bought by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc increased its Deere & Company stake by 113.8% in the fourth quarter, buying 5,486 additional shares and bringing its total to 10,307 shares valued at about $4.8 million.
• Deere recently reported stronger-than-expected quarterly results, posting earnings of $6.55 per share versus the $5.70 estimate and revenue of $13.37 billion, which topped forecasts.
• The company also announced a quarterly dividend of $1.62 per share, payable August 10, while Wall Street maintains a Moderate Buy consensus with an average price target of $638.08.

MUFG Securities EMEA plc lifted its position in Deere & Company (NYSE:DE - Free Report) by 113.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,307 shares of the industrial products company's stock after acquiring an additional 5,486 shares during the quarter. MUFG Securities EMEA plc's holdings in Deere & Company were worth $4,799,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cerro Pacific Wealth Advisors LLC boosted its position in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after purchasing an additional 19 shares during the period. Verdence Capital Advisors LLC boosted its position in Deere & Company by 2.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company's stock valued at $360,000 after purchasing an additional 20 shares during the period. Family Legacy Inc. boosted its position in Deere & Company by 0.3% during the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company's stock valued at $3,675,000 after purchasing an additional 20 shares during the period. Evoke Wealth LLC boosted its position in Deere & Company by 2.5% during the 4th quarter. Evoke Wealth LLC now owns 830 shares of the industrial products company's stock valued at $388,000 after purchasing an additional 20 shares during the period. Finally, Eukles Asset Management boosted its position in Deere & Company by 0.7% during the 4th quarter. Eukles Asset Management now owns 2,837 shares of the industrial products company's stock valued at $1,321,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Deere & Company from $543.00 to $750.00 and gave the company an "overweight" rating in a research report on Friday, February 20th. Truist Financial reduced their price objective on Deere & Company from $793.00 to $759.00 and set a "buy" rating for the company in a research report on Tuesday, May 26th. Wolfe Research boosted their price objective on Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $550.00 to $560.00 and gave the company a "neutral" rating in a research report on Friday, May 22nd. Finally, Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $638.08.

Deere & Company Trading Up 0.0%

NYSE:DE opened at $542.34 on Monday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market cap of $146.40 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.01 and a beta of 0.92. The business has a fifty day moving average of $572.29 and a 200-day moving average of $542.55. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE - Get Free Report) last released 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. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter in the prior year, the business posted $6.64 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company's dividend payout ratio is presently 36.71%.

Deere & Company Profile

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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