Deere & Company $DE Shares Bought by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan raised its holdings in Deere & Company (NYSE:DE) by 51.9% during the second quarter, Holdings Channel.com reports. The firm owned 105,101 shares of the industrial products company’s stock after purchasing an additional 35,906 shares during the period. Nissay Asset Management Corp Japan’s holdings in Deere & Company were worth $66,669,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Deere & Company in the second quarter valued at about $27,000. Timmons Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter worth about $29,000. Kilter Group LLC acquired a new stake in shares of Deere & Company during the second quarter valued at about $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Finally, Solstein Capital LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $30,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.3%

DE opened at $630.66 on Friday. The business has a fifty day moving average price of $611.59 and a 200 day moving average price of $593.34. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market capitalization of $170.24 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.57 and a beta of 0.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.75 EPS. Sell-side analysts expect that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DE. Robert W. Baird increased their price objective on shares of Deere & Company from $525.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Seaport Research Partners set a $570.00 price objective on Deere & Company in a report on Friday, August 14th. Barclays increased their target price on Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday. DA Davidson raised their target price on Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a report on Monday, August 24th. Finally, Raymond James Financial dropped their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $653.48.

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.