Iyo Bank Ltd. Increases Stock Position in Deere & Company (NYSE:DE)

Iyo Bank Ltd. grew its stake in shares of Deere & Company (NYSE:DE) by 11.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,080 shares of the industrial products company’s stock after acquiring an additional 1,040 shares during the quarter. Deere & Company comprises approximately 1.5% of Iyo Bank Ltd.’s portfolio, making the stock its 24th biggest position. Iyo Bank Ltd.’s holdings in Deere & Company were worth $4,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after buying an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 period. Capital World Investors grew its stake 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 period. Northern Trust Corp lifted its holdings in Deere & Company by 12.8% in the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company’s stock worth $1,235,394,000 after purchasing an additional 330,915 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Deere & Company by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company’s stock worth $1,096,179,000 after purchasing an additional 184,203 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DE has been the topic of a number of research analyst reports. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Oppenheimer boosted their target price on Deere & Company from $555.00 to $560.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Citigroup lowered their target price on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Raymond James Financial upped their target price on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $523.93.

Deere & Company Trading Down 0.6%

Shares of NYSE:DE opened at $507.38 on Tuesday. The business’s 50-day moving average is $512.46 and its 200 day moving average is $489.58. Deere & Company has a 1 year low of $343.90 and a 1 year high of $533.78. The firm has a market capitalization of $137.41 billion, a P/E ratio of 24.55, a P/E/G ratio of 3.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $8.53 earnings per share. On average, research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders 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 dividend yield of 1.3%. Deere & Company’s dividend payout ratio is currently 31.35%.

Deere & Company Profile

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.