Mizuho Securities USA LLC Has $7.79 Million Position in Deere & Company (NYSE:DE)

Mizuho Securities USA LLC lessened its holdings in Deere & Company (NYSE:DE) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,654 shares of the industrial products company’s stock after selling 1,311 shares during the quarter. Mizuho Securities USA LLC’s holdings in Deere & Company were worth $7,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. M&G Plc bought a new stake in Deere & Company in the first quarter valued at $2,008,000. Ontario Teachers Pension Plan Board boosted its stake in shares of Deere & Company by 428.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 7,866 shares of the industrial products company’s stock valued at $3,231,000 after purchasing an additional 6,378 shares in the last quarter. Catalytic Wealth RIA LLC grew its holdings in shares of Deere & Company by 7.5% in the 1st quarter. Catalytic Wealth RIA LLC now owns 1,359 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 95 shares during the last quarter. Cynosure Group LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth about $347,000. Finally, Covestor Ltd lifted its holdings in Deere & Company by 6.4% during the 1st quarter. Covestor Ltd now owns 1,396 shares of the industrial products company’s stock valued at $574,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup boosted their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Finally, Evercore ISI lifted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

DE stock opened at $398.95 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $109.15 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The business’s fifty day moving average is $404.03 and its 200-day moving average is $385.65.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.20 earnings per share. Equities research analysts forecast that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is 20.06%.

About Deere & Company

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.