Rakuten Securities Inc. Takes $28,000 Position in Deere & Company (NYSE:DE)

Rakuten Securities Inc. bought a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 70 shares of the industrial products company’s stock, valued at approximately $28,000.

Other large investors have also modified their holdings of the company. Essex Savings Bank boosted its stake in Deere & Company by 0.5% during the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. boosted its stake in Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares during the period. Bleakley Financial Group LLC boosted its stake in Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the period. Simplicity Solutions LLC boosted its stake in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the period. Finally, Liberty One Investment Management LLC boosted its stake in Deere & Company by 0.5% during the 4th quarter. Liberty One Investment Management LLC now owns 6,016 shares of the industrial products company’s stock worth $2,579,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE opened at $400.87 on Friday. The company’s 50 day simple moving average is $385.47 and its 200 day simple moving average is $382.79. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The stock has a market capitalization of $111.59 billion, a PE ratio of 11.67, a P/E/G ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same period last year, the company earned $6.55 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is presently 17.12%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Evercore ISI increased their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.