Deere & Company (NYSE:DE) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Deere & Company by 11.3%, owning 455,144 shares worth approximately $213.62 million as of the end of Q1.
• Several analysts have adjusted their ratings on Deere & Company, with JPMorgan boosting its price target from $490.00 to $540.00 and Melius Research upgrading the stock to a "strong-buy" rating.
• Deere & Company's recent quarterly earnings report showed an EPS of $6.64, exceeding estimates, despite a 17.9% decline in revenue compared to the same quarter last year.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Deere & Company (NYSE:DE - Free Report) by 11.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 455,144 shares of the industrial products company's stock after buying an additional 46,039 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Deere & Company worth $213,622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. Hughes Financial Services LLC purchased a new stake in Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company during the 4th quarter worth approximately $39,000. Finally, Dogwood Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Bank of America increased their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets restated a "market perform" rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $515.50.

Deere & Company Stock Down 0.5%

NYSE:DE opened at $506.90 on Friday. The company has a market capitalization of $137.28 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.06. Deere & Company has a one year low of $343.38 and a one year high of $533.78. The stock has a 50-day simple moving average of $512.37 and a 200 day simple moving average of $488.75. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $8.53 EPS. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's payout ratio is presently 31.35%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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