Mirae Asset Global Investments Co. Ltd. lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,040 shares of the industrial products company's stock after selling 5,930 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Deere & Company were worth $32,564,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. Activest Wealth Management increased its position in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC bought a new position in Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC increased its position in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA bought a new position in Deere & Company during the 2nd quarter worth $38,000. Finally, Livelsberger Financial Advisory bought a new position in Deere & Company during the 2nd quarter worth $39,000. Institutional investors own 68.58% of the company's stock.
Analysts Set New Price Targets
Several research analysts have weighed in on DE shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Deere & Company in a research report on Saturday, September 27th. Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Robert W. Baird lowered their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Finally, Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $518.18.
Get Our Latest Stock Analysis on DE
Deere & Company Stock Up 0.2%
Shares of NYSE DE opened at $462.59 on Friday. 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 52 week low of $387.03 and a 52 week high of $533.78. The stock has a market capitalization of $125.05 billion, a P/E ratio of 24.18, a PEG ratio of 2.97 and a beta of 1.02. The stock's fifty day moving average is $484.64 and its 200 day moving average is $489.09.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the business earned $6.29 earnings per share. Deere & Company's revenue was down 9.0% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid 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 33.87%.
Deere & Company Profile
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Free Report)
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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