Daiwa Securities Group Inc. Sells 2,431 Shares of Deere & Company (NYSE:DE)

Daiwa Securities Group Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,295 shares of the industrial products company’s stock after selling 2,431 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Deere & Company were worth $14,913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley increased its stake in shares of Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares during the period. FMR LLC boosted its holdings in Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after acquiring an additional 269,571 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares during the period. Norges Bank bought a new stake in Deere & Company during the 4th quarter worth about $1,326,177,000. Finally, Northern Trust Corp lifted its position in Deere & Company by 2.5% during the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after purchasing an additional 73,601 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Evercore ISI raised their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Finally, Citigroup cut their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Up 1.0 %

Shares of Deere & Company stock opened at $396.88 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The firm has a market cap of $110.48 billion, a PE ratio of 11.56, a P/E/G ratio of 1.48 and a beta of 1.04. The business’s 50 day simple moving average is $385.17 and its 200 day simple moving average is $382.66.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.55 earnings per share. On average, analysts predict that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Deere & Company Profile

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.