Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Deere & Company $DE

by · The Cerbat Gem

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 487,858 shares of the industrial products company’s stock after acquiring an additional 32,714 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Deere & Company worth $248,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Nuveen LLC bought a new position in Deere & Company during the first quarter valued at approximately $571,073,000. TD Asset Management Inc raised its holdings in shares of Deere & Company by 132.0% during the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after acquiring an additional 410,636 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after acquiring an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after purchasing an additional 256,806 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DE shares. Citigroup dropped their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Royal Bank Of Canada began coverage on Deere & Company in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price objective on the stock. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. lowered their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $518.72.

View Our Latest Report on DE

Deere & Company Price Performance

Shares of DE stock opened at $466.98 on Friday. The stock has a 50 day moving average price of $465.84 and a 200 day moving average price of $490.08. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market capitalization of $126.24 billion, a P/E ratio of 24.41, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE – Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm posted $6.29 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

About Deere & Company

(Free Report)

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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