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

Nissay Asset Management Corp Japan increased its stake in Deere & Company (NYSE:DE) by 51.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 105,101 shares of the industrial products company’s stock after acquiring an additional 35,906 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Deere & Company were worth $66,669,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DE. Barclays lifted their price target on Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday. Robert W. Baird raised their price target on shares of Deere & Company from $525.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Oppenheimer upped their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Citigroup increased their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Finally, Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $653.48.

Deere & Company Stock Up 1.3%

NYSE DE opened at $630.66 on Friday. The business’s fifty day simple moving average is $611.59 and its 200-day simple moving average is $593.34. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The firm has a market cap of $170.24 billion, a PE ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the firm posted $4.75 earnings per share. Deere & Company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

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

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.