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Mitsubishi UFJ Trust & Banking Corp Sells 7,554 Shares of Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

Key Points

  • Mitsubishi UFJ Trust & Banking Corp reduced its stake in Deere & Company by 4.2%, selling 7,554 shares and retaining approximately 170,902 shares valued at $80.21 million.
  • Deere & Company recently reported earnings of $6.64 per share, exceeding estimates, while revenue reached $11.17 billion, surpassing expectations of $10.80 billion.
  • The company declared a quarterly dividend of $1.62, set to be paid on August 8th, with a current dividend yield of 1.3% and a payout ratio of 31.35%.
  • Five stocks we like better than Deere & Company.

Mitsubishi UFJ Trust & Banking Corp reduced its position in Deere & Company (NYSE:DE - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,902 shares of the industrial products company's stock after selling 7,554 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Deere & Company worth $80,213,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Capital World Investors increased its holdings in shares of 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 valued at $2,566,884,000 after acquiring an additional 157,224 shares during the last quarter. FMR LLC increased its holdings in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Deere & Company by 12.8% during the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock valued at $1,235,394,000 after acquiring an additional 330,915 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Deere & Company by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company's stock valued at $1,096,179,000 after acquiring an additional 184,203 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock traded down $23.43 during mid-day trading on Friday, reaching $500.94. The stock had a trading volume of 1,623,054 shares, compared to its average volume of 1,153,713. The firm's 50 day simple moving average is $512.25 and its 200 day simple moving average is $487.73. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The firm has a market cap of $135.67 billion, a PE ratio of 24.24, a P/E/G ratio of 3.18 and a beta of 1.06.

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

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is 31.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DE shares. Citigroup lowered their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Evercore ISI increased their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Barclays raised their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of "Hold" and an average target price of $515.50.

Read Our Latest Stock Analysis on DE

Deere & Company Profile

(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.

See Also

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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