Deere & Company $DE Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. decreased its position in Deere & Company (NYSE:DE) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,214 shares of the industrial products company’s stock after selling 4,521 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Deere & Company were worth $38,169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new position in Deere & Company during the 2nd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new stake in shares of Deere & Company during the second quarter worth about $27,000. Center for Financial Planning Inc. lifted its position in shares of Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares in the last quarter. Soundwatch Capital LLC purchased a new position in shares of Deere & Company in the second quarter valued at approximately $41,000. Finally, Lynch Asset Management Inc. acquired a new position in shares of Deere & Company in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DE shares. Jefferies Financial Group increased their target price on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Wolfe Research increased their price objective on Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. BMO Capital Markets restated a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a report on Tuesday, December 9th. Finally, Truist Financial increased their price target on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research report on Friday, November 28th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Deere & Company Stock Down 1.4%

Deere & Company stock opened at $514.92 on Friday. The stock has a market cap of $139.58 billion, a PE ratio of 27.82, a P/E/G ratio of 2.00 and a beta of 1.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The stock’s fifty day moving average is $482.61 and its two-hundred day moving average is $482.05. Deere & Company has a 1-year low of $404.42 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.Deere & Company’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $4.55 EPS. On average, sell-side analysts expect 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 will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s payout ratio is currently 35.01%.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 64,578 shares of company stock valued at $32,471,682. Company insiders own 0.29% of the company’s stock.

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.