Resona Asset Management Co. Ltd. Sells 3,447 Shares of Deere & Company $DE

Resona Asset Management Co. Ltd. lessened its holdings in Deere & Company (NYSE:DE) by 4.1% during the 4th quarter, HoldingsChannel reports. The firm owned 79,767 shares of the industrial products company’s stock after selling 3,447 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Deere & Company were worth $37,207,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Cerro Pacific Wealth Advisors LLC increased its position in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 19 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Deere & Company by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 20 shares during the last quarter. Family Legacy Inc. increased its position in Deere & Company by 0.3% in the fourth quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock worth $3,675,000 after purchasing an additional 20 shares during the last quarter. Bouchey Financial Group Ltd increased its position in Deere & Company by 4.4% in the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 21 shares during the last quarter. Finally, Silvant Capital Management LLC increased its position in Deere & Company by 0.5% in the third quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock worth $2,034,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of several research reports. Barclays boosted their price target on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Oppenheimer reaffirmed an “outperform” rating and set a $715.00 price objective on shares of Deere & Company in a research note on Friday, February 20th. Robert W. Baird dropped their price objective on shares of Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Royal Bank Of Canada lifted their price objective on shares of Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Citigroup dropped their price objective on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research note on Monday, March 9th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $655.45.

Deere & Company Stock Up 0.5%

NYSE DE opened at $564.61 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a fifty day moving average of $580.45 and a two-hundred day moving average of $538.11. The firm has a market capitalization of $152.50 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.96 and a beta of 0.96. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. Deere & Company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.19 earnings per share. On average, analysts predict that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Deere & Company’s payout ratio is currently 36.53%.

Key Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Analysts remain moderately optimistic about Deere & Company (DE) even though the stock has underperformed the broader market over the past year, suggesting some investors still see upside if execution improves. What Are Wall Street Analysts’ Target Price for Deere & Company Stock?
• Neutral Sentiment: Wall Street’s key-metric previews ahead of Deere’s Q2 report suggest investors are focusing on operating trends such as demand, margins, and equipment sales to gauge whether the quarter came in better or worse than expected. Wall Street’s Insights Into Key Metrics Ahead of Deere (DE) Q2 Earnings
• Neutral Sentiment: Deere is expected to report Q2 earnings soon, and investors are watching for whether higher revenue can offset weaker farm spending and rising costs; consensus calls for earnings to fall about 12.5% year over year. Deere Gears Up to Report Q2 Earnings: What to Expect for the Stock?
• Negative Sentiment: A new lawsuit accusing Deere & Company (DE) of blocking right-to-repair access for construction equipment adds another legal and reputational overhang for the company. Deere Hit With New Lawsuit, This One for Construction Equipment Right to Repair
• Negative Sentiment: Comparisons with Caterpillar highlighted Deere’s weaker earnings growth and revenue momentum relative to CAT, which may pressure investor sentiment toward DE heading into earnings. Caterpillar vs. Deere: Which Heavy Equipment Stock is the Better Buy?

Deere & Company 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.