Mirae Asset Global Investments Co. Ltd. Has $27.75 Million Stake in Deere & Company $DE

Key Points

• Mirae Asset Global Investments increased its stake in Deere & Company by 9.2% to 59,602 shares, valued at about $27.75 million at the end of the quarter.
• Deere reported a quarterly EPS of $2.42 (vs. $1.90 expected) and revenue of $9.61 billion (vs. $7.50 billion expected), with revenue up 17.5% year‑over‑year.
• Multiple analysts raised price targets (e.g., Morgan Stanley to $730, Truist to $793) and the consensus is a Moderate Buy with an average target of $655.45.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 9.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,602 shares of the industrial products company's stock after acquiring an additional 4,997 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Deere & Company were worth $27,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Van ECK Associates Corp raised its position in Deere & Company by 278.0% in the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company's stock valued at $223,005,000 after purchasing an additional 358,687 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Deere & Company by 21.7% during the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company's stock worth $829,930,000 after purchasing an additional 323,512 shares during the last quarter. Capital World Investors increased its stake in shares of Deere & Company by 5.5% in the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company's stock valued at $2,850,687,000 after buying an additional 322,582 shares during the period. Two Sigma Investments LP bought a new position in Deere & Company in the 3rd quarter valued at approximately $143,519,000. Finally, Nordea Investment Management AB raised its holdings in Deere & Company by 71.4% in the 3rd quarter. Nordea Investment Management AB now owns 531,807 shares of the industrial products company's stock valued at $242,834,000 after buying an additional 221,456 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Morgan Stanley lifted their target price on shares of Deere & Company from $560.00 to $730.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Truist Financial lifted their price target on shares of Deere & Company from $612.00 to $793.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Raymond James Financial reissued an "outperform" rating and issued a $765.00 price objective on shares of Deere & Company in a research note on Monday, February 23rd. Finally, Barclays increased their price objective on Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and an average target price of $655.45.

Deere & Company Trading Up 1.0%

DE opened at $590.10 on Friday. The company has a fifty day moving average price of $595.10 and a two-hundred day moving average price of $521.29. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a market cap of $159.39 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion for the quarter, compared to analysts' expectations of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business's revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 EPS. Analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company's dividend payout ratio is presently 36.53%.

About Deere & Company

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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