Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Deere & Company (NYSE:DE) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,952 shares of the industrial products company’s stock after purchasing an additional 1,873 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Deere & Company were worth $8,559,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $624,150,000. Parnassus Investments CA grew its holdings in shares of Deere & Company by 52.3% during the first quarter. Parnassus Investments CA now owns 3,684,560 shares of the industrial products company’s stock worth $509,059,000 after buying an additional 1,264,927 shares in the last quarter. Janus Henderson Group PLC raised its position in Deere & Company by 19.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,529,749 shares of the industrial products company’s stock valued at $611,557,000 after buying an additional 571,773 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Deere & Company in the 4th quarter valued at approximately $89,931,000. Finally, Ceredex Value Advisors LLC bought a new stake in Deere & Company in the 4th quarter valued at approximately $85,260,000. 67.55% of the stock is owned by hedge funds and other institutional investors.
Shares of DE traded down $2.10 during mid-day trading on Friday, reaching $140.71. The company’s stock had a trading volume of 3,426,656 shares, compared to its average volume of 1,765,039. The company has a current ratio of 2.12, a quick ratio of 1.84 and a debt-to-equity ratio of 2.55. Deere & Company has a 1-year low of $106.14 and a 1-year high of $181.99. The business has a 50-day simple moving average of $137.27 and a two-hundred day simple moving average of $157.92. The stock has a market cap of $44.79 billion, a P/E ratio of 13.75, a PEG ratio of 3.35 and a beta of 0.93.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, March 30th. Deere & Company’s payout ratio is presently 30.58%.
A number of analysts have recently issued reports on DE shares. Argus reiterated a “buy” rating and issued a $166.65 price objective (down from $185.00) on shares of Deere & Company in a report on Wednesday, February 26th. BMO Capital Markets lifted their price target on shares of Deere & Company to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Credit Suisse Group boosted their price target on shares of Deere & Company from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, February 24th. Morgan Stanley reduced their price objective on shares of Deere & Company from $205.00 to $171.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Finally, Bank of America raised Deere & Company from an “underperform” rating to a “buy” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $168.04.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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