Deere & Company (NYSE:DE) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Deere & Company (NYSE:DE) by 9.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 409,105 shares of the industrial products company’s stock after purchasing an additional 35,074 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Deere & Company were worth $172,732,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Everence Capital Management Inc. increased its position in shares of Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares in the last quarter. Stockbridge Partners LLC increased its holdings in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Deere & Company during the fourth quarter worth about $254,000. Toronto Dominion Bank lifted its stake in shares of Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after buying an additional 2,964 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $479.69 on Friday. The company has a market cap of $130.19 billion, a P/E ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. The business has a 50 day moving average of $477.11 and a two-hundred day moving average of $438.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of several recent research reports. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. raised their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $460.00.

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.