Mitsubishi UFJ Trust & Banking Corp Reduces Stake in Deere & Company $DE

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Deere & Company (NYSE:DE) by 11.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 151,823 shares of the industrial products company’s stock after selling 19,079 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Deere & Company were worth $77,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. OLD National Bancorp IN raised its position in Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after acquiring an additional 610 shares during the last quarter. Providence Capital Advisors LLC grew its holdings in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares during the period. Bragg Financial Advisors Inc grew its stake in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares during the period. ASR Vermogensbeheer N.V. acquired a new stake in Deere & Company in the 1st quarter valued at $13,588,000. Finally, United Asset Strategies Inc. acquired a new stake in shares of Deere & Company in the first quarter valued at about $2,496,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, October 28th. Jefferies Financial Group reduced their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Royal Bank Of Canada initiated coverage on shares of Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price on the stock. Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. Finally, Wolfe Research reduced their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Stock Up 0.3%

DE opened at $479.22 on Thursday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The firm’s 50-day simple moving average is $466.00 and its 200-day simple moving average is $490.69. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market cap of $129.55 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the firm earned $6.29 EPS. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.62 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is currently 33.87%.

Deere & Company 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.