Mirae Asset Global Investments Co. Ltd. Acquires 13,133 Shares of Deere & Company (NYSE:DE)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 23.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 69,970 shares of the industrial products company's stock after acquiring an additional 13,133 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Deere & Company were worth $32,618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Capital World Investors increased its holdings in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the period. FMR LLC increased its holdings in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC increased its holdings in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the period. Finally, Norges Bank purchased a new position in Deere & Company during the 4th quarter worth $1,244,094,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.0%

Deere & Company stock opened at $513.46 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market capitalization of $139.06 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.26 and a beta of 1.09. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The business has a fifty day moving average price of $500.54 and a 200-day moving average price of $472.91.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. Deere & Company's payout ratio is 31.35%.

Analyst Ratings Changes

DE has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Morgan Stanley raised their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Evercore ISI raised their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Bank of America raised their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Citigroup cut their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $515.19.

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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