Daiwa Securities Group Inc. boosted its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 2.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 47,457 shares of the industrial products company’s stock after buying an additional 937 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Deere & Company were worth $22,094,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of DE. Cary Street Partners Financial LLC increased its position in shares of Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after acquiring an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC increased its position in shares of Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after acquiring an additional 30,553 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Deere & Company by 66.1% during the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after acquiring an additional 10,974 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after acquiring an additional 2,702 shares during the last quarter. Finally, Westpac Banking Corp increased its position in shares of Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after acquiring an additional 3,047 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on DE. Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. UBS Group raised their target price on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. DA Davidson decreased their target price on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a research report on Wednesday, April 8th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.
Deere & Company Stock Performance
NYSE:DE opened at $583.80 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The business has a fifty day simple moving average of $572.86 and a two-hundred day simple moving average of $545.60. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a market capitalization of $157.59 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.20 and a beta of 0.92.
Deere & Company (NYSE:DE – Get Free Report) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $6.64 earnings per share. On average, analysts expect that Deere & Company will post 18.08 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is 36.71%.
Deere & Company Profile
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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