Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Deere & Company (NYSE:DE) by 3.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 61,952 shares of the industrial products company’s stock after purchasing an additional 1,873 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Deere & Company were worth $8,559,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Atlas Private Wealth Management bought a new position in Deere & Company in the 4th quarter valued at $29,000. Solstein Capital LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $35,000. Danda Trouve Investment Management Inc. purchased a new position in shares of Deere & Company in the 4th quarter worth about $35,000. MBE Wealth Management LLC bought a new position in Deere & Company during the first quarter valued at about $35,000. Finally, Wealth Quarterback LLC purchased a new stake in Deere & Company during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 67.55% of the company’s stock.
DE stock traded down $2.10 during mid-day trading on Friday, hitting $140.71. 3,426,656 shares of the stock were exchanged, compared to its average volume of 1,765,039. The business has a fifty day moving average price of $137.27 and a 200 day moving average price of $157.92. Deere & Company has a 12 month low of $106.14 and a 12 month high of $181.99. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.12 and a quick ratio of 1.84. The stock has a market capitalization of $44.79 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.35 and a beta of 0.93.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were issued a $0.76 dividend. The ex-dividend date was Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.16%. Deere & Company’s payout ratio is 30.58%.
DE has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Deere & Company in a research report on Monday, February 24th. Citigroup dropped their price objective on Deere & Company from $155.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday. Goldman Sachs Group reduced their price objective on Deere & Company from $208.00 to $182.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Robert W. Baird lowered Deere & Company from an “outperform” rating to a “neutral” rating and set a $150.00 target price on the stock. in a research note on Monday, April 13th. Finally, Bank of America upgraded Deere & Company from an “underperform” rating to a “buy” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $168.04.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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