Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,885 shares of the industrial products company's stock after purchasing an additional 592 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Deere & Company were worth $3,701,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Hughes Financial Services LLC acquired a new stake in Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its stake in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company in the fourth quarter worth $39,000. Finally, Citizens National Bank Trust Department purchased a new position in shares of Deere & Company in the first quarter worth $45,000. 68.58% of the stock is currently owned by institutional investors.
Deere & Company Stock Performance
Shares of Deere & Company stock traded up $9.84 during trading on Friday, hitting $488.68. 2,673,758 shares of the company's stock were exchanged, compared to its average volume of 1,318,860. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.19. The business has a 50-day simple moving average of $511.18 and a 200-day simple moving average of $489.97. Deere & Company has a 52-week low of $371.16 and a 52-week high of $533.78. The stock has a market capitalization of $132.35 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.10 and a beta of 1.06.
Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the company posted $6.29 earnings per share. The firm's revenue was down 9.0% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company's payout ratio is presently 31.35%.
Wall Street Analyst Weigh In
DE has been the subject of a number of research analyst reports. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Finally, Truist Financial decreased their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $521.47.
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About Deere & Company
(
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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