Deere & Company (NYSE:DE) Shares Bought by AIA Group Ltd

AIA Group Ltd boosted its stake in Deere & Company (NYSE:DE) by 23.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 175,433 shares of the industrial products company’s stock after buying an additional 32,778 shares during the period. Deere & Company makes up 2.4% of AIA Group Ltd’s portfolio, making the stock its 6th largest holding. AIA Group Ltd owned 0.06% of Deere & Company worth $72,057,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Townsquare Capital LLC lifted its holdings in shares of Deere & Company by 15.2% during the third quarter. Townsquare Capital LLC now owns 4,608 shares of the industrial products company’s stock worth $1,739,000 after buying an additional 607 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in Deere & Company by 19.8% in the 3rd quarter. Silver Oak Securities Incorporated now owns 985 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 163 shares in the last quarter. Comerica Bank boosted its holdings in Deere & Company by 43.5% in the 3rd quarter. Comerica Bank now owns 66,268 shares of the industrial products company’s stock valued at $25,008,000 after purchasing an additional 20,099 shares during the period. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $413,000. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in shares of Deere & Company during the third quarter worth approximately $360,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DE. Truist Financial reduced their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Stifel Nicolaus increased their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Citigroup assumed coverage on shares of Deere & Company in a research note on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price objective on the stock. Finally, DA Davidson dropped their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average target price of $427.13.

Deere & Company Trading Up 1.0 %

DE traded up $3.73 during trading on Friday, reaching $365.33. 1,004,356 shares of the company’s stock were exchanged, compared to its average volume of 1,512,105. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a one year low of $345.93 and a one year high of $450.00. The firm has a fifty day moving average price of $378.08 and a two-hundred day moving average price of $385.16. The stock has a market capitalization of $100.67 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.42 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.65 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 25.56 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 Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.61%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by insiders.

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.