Resona Asset Management Co. Ltd. Acquires 1,403 Shares of Deere & Company $DE

Resona Asset Management Co. Ltd. grew its holdings in Deere & Company (NYSE:DE) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,170 shares of the industrial products company’s stock after purchasing an additional 1,403 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Deere & Company were worth $45,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Vanguard Group Inc. grew its stake in Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after acquiring an additional 198,332 shares in the last quarter. State Street Corp raised its stake in shares of Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after acquiring an additional 97,049 shares in the last quarter. Capital World Investors raised its stake in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after purchasing an additional 158,584 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after purchasing an additional 17,269 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DE has been the topic of several research reports. Barclays raised their price objective on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Robert W. Baird lowered their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday. Truist Financial lifted their price objective on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Wolfe Research upped their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $642.23.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $596.64 on Thursday. The firm has a 50 day moving average of $580.63 and a 200 day moving average of $565.99. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $161.06 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 2.23 and a beta of 0.89. 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 earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter last year, the firm earned $6.64 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 18.13 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, August 10th. Investors of record on Tuesday, June 30th will be 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 is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Trending Headlines about Deere & Company

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

• Positive Sentiment: The settlement removes a major legal overhang and uncertainty tied to Deere’s right-to-repair antitrust dispute. WI DOJ announces settlement in antitrust lawsuit against Deere & Company
• Positive Sentiment: Deere said the agreement reinforces its commitment to diagnostic and repair tools for farmers, which may help limit further regulatory pressure and support customer relationships. John Deere Reinforces Commitment to Diagnostic and Repair Tools for Farmers Under Agreement with FTC and States
• Neutral Sentiment: Investors are also still watching Deere’s broader fundamentals, including softer large-agriculture demand and a valuation that has already recovered significantly from earlier lows. Deere Falls as Investors Revisit Large-Ag Weakness and Valuation Risk
• Negative Sentiment: The right-to-repair deal may pressure Deere’s control over equipment servicing and could narrow profit opportunities in its high-margin aftermarket ecosystem over time. Settlement announced in Deere antitrust lawsuit

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.