Rakuten Securities Inc. Makes New Investment in Deere & Company (NYSE:DE)

Rakuten Securities Inc. bought a new stake in Deere & Company (NYSE:DE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 70 shares of the industrial products company’s stock, valued at approximately $28,000.

A number of other large investors also recently made changes to their positions in the business. Morgan Stanley increased its holdings 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 purchasing an additional 65,006 shares during the period. FMR LLC grew its stake in shares of Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after buying an additional 269,571 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Deere & Company by 104,373.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after buying an additional 3,216,801 shares in the last quarter. Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter valued at approximately $1,326,177,000. Finally, Northern Trust Corp grew its stake in shares of Deere & Company by 2.5% in 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 buying an additional 73,601 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.0 %

DE opened at $400.87 on Friday. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $111.59 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.49 and a beta of 1.04. The business has a 50 day moving average of $385.47 and a 200-day moving average of $382.79.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s payout ratio is 17.12%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Stifel Nicolaus lowered their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Wells Fargo & Company lowered their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Finally, Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company 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.