603,961 Shares in Deere & Company $DE Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 603,961 shares of the industrial products company’s stock, valued at approximately $383,111,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DE. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the 4th quarter valued at approximately $30,000. Portus Wealth Advisors LLC acquired a new stake in Deere & Company in the 1st quarter valued at approximately $32,000. Wealth Watch Advisors INC bought a new stake in Deere & Company in the 3rd quarter valued at approximately $32,000. Finally, SHP Wealth Management bought a new stake in Deere & Company in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DE. Citigroup upped their price target on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Truist Financial boosted their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. DA Davidson restated a “buy” rating and set a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Raymond James Financial decreased their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $641.98.

Deere & Company Stock Down 1.4%

DE stock opened at $600.08 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The business has a 50 day moving average price of $603.76 and a two-hundred day moving average price of $588.84. The company has a market cap of $161.99 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the firm earned $6.64 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts anticipate that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

About Deere & Company

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.