Meiji Yasuda Asset Management Co Ltd. Purchases 3,122 Shares of Deere & Company $DE

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its stake in Deere & Company by 77.6%, holding 7,147 shares worth approximately $3.35 million.
• Deere & Company reported earnings of $4.75 per share for the last quarter, exceeding analyst estimates of $4.62, despite a 9% revenue decline year-over-year.
• The company announced a quarterly dividend of $1.62, with a dividend yield of 1.3%, to be paid on November 10th.

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 77.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,147 shares of the industrial products company's stock after buying an additional 3,122 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Deere & Company were worth $3,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Arete Wealth Advisors LLC lifted its holdings in Deere & Company by 70.3% in the 1st quarter. Arete Wealth Advisors LLC now owns 4,095 shares of the industrial products company's stock worth $1,922,000 after purchasing an additional 1,691 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Deere & Company by 2.7% in the 1st quarter. Great Lakes Advisors LLC now owns 2,506 shares of the industrial products company's stock worth $1,176,000 after buying an additional 67 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Deere & Company in the 1st quarter worth approximately $1,000,000. Hamilton Capital LLC increased its holdings in Deere & Company by 6.0% during the 1st quarter. Hamilton Capital LLC now owns 817 shares of the industrial products company's stock valued at $383,000 after purchasing an additional 46 shares in the last quarter. Finally, Sciencast Management LP bought a new position in Deere & Company in the 1st quarter valued at $244,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Citigroup cut their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and an average price target of $520.87.

Deere & Company Trading Up 1.0%

Deere & Company stock traded up $4.89 during trading hours on Thursday, reaching $476.24. 1,368,492 shares of the company's stock were exchanged, compared to its average volume of 1,478,417. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The firm's 50 day simple moving average is $498.30 and its 200 day simple moving average is $490.35. Deere & Company has a twelve month low of $383.10 and a twelve month high of $533.78. The firm has a market capitalization of $128.74 billion, a PE ratio of 24.89, a PEG ratio of 3.03 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business's revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.29 EPS. Research analysts predict that Deere & Company will post 19.32 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, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

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.