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

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Deere & Company (NYSE:DE) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 487,858 shares of the industrial products company’s stock after buying an additional 32,714 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Deere & Company were worth $248,071,000 at the end of the most recent quarter.

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

Deere & Company Price Performance

Shares of DE stock opened at $466.98 on Friday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two 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 price-to-earnings ratio of 24.41, a PEG ratio of 3.05 and a beta of 1.04. The stock’s 50-day simple moving average is $465.84 and its 200-day simple moving average is $490.08.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm posted $6.29 EPS. As a group, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DE shares. JPMorgan Chase & Co. lowered their target price on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday. UBS Group restated a “buy” rating on shares of Deere & Company in a research note on Tuesday, October 28th. Wolfe Research cut their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. One research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Company Profile

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.