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

Iyo Bank Ltd. lifted its stake in Deere & Company (NYSE:DE) by 76.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,040 shares of the industrial products company’s stock after buying an additional 3,910 shares during the quarter. Deere & Company makes up 1.3% of Iyo Bank Ltd.’s holdings, making the stock its 23rd largest position. Iyo Bank Ltd.’s holdings in Deere & Company were worth $3,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter valued at about $26,000. Pineridge Advisors LLC grew its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR lifted its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Oppenheimer reduced their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Morgan Stanley lowered their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Up 2.2 %

Deere & Company stock opened at $402.65 on Tuesday. The stock has a market cap of $110.17 billion, a PE ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock’s fifty day moving average is $403.35 and its two-hundred day moving average is $385.61. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.20 earnings per share. On average, sell-side analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.