MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 5,210 Shares of Deere & Company $DE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Deere & Company by 0.8%, owning a total of 638,874 shares valued at approximately $299.8 million.
• Deere & Company reported earnings of $4.75 per share for the last quarter, surpassing analysts' expectations, while revenue was down 9% year-over-year.
• The company declared a quarterly dividend of $1.62 per share, which will be paid on November 10th, reflecting an annualized dividend yield of 1.4%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 638,874 shares of the industrial products company's stock after purchasing an additional 5,210 shares during the quarter. Deere & Company accounts for 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 24th largest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.24% of Deere & Company worth $299,837,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chicago Partners Investment Group LLC grew its holdings in Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after purchasing an additional 21 shares during the period. Tyler Stone Wealth Management grew its holdings in Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after purchasing an additional 21 shares during the period. Sunbelt Securities Inc. grew its holdings in Deere & Company by 2.4% in the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after purchasing an additional 22 shares during the period. Hayek Kallen Investment Management grew its holdings in Deere & Company by 1.7% in the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock worth $610,000 after purchasing an additional 22 shares during the period. Finally, First Bancorp Inc ME grew its holdings in shares of Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after buying an additional 23 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

DE stock traded up $0.26 during mid-day trading on Wednesday, hitting $475.86. The company had a trading volume of 489,080 shares, compared to its average volume of 1,353,690. The firm has a market cap of $128.64 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.09 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 12 month low of $378.66 and a 12 month high of $533.78. The stock's fifty day moving average price is $500.10 and its two-hundred day moving average price is $490.54.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.29 earnings per share. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders 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 payout ratio is currently 33.87%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Bank of America raised their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Barclays raised their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $520.87.

About Deere & Company

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.