Deere & Company $DE Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its position in Deere & Company (NYSE:DE) by 1.8% during the 1st quarter, Holdings Channel.com reports. 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 SEC filing.

A number of other large investors have also made changes to their positions in DE. Strategic Advocates LLC purchased a new position in Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC purchased a new stake in Deere & Company in the fourth quarter valued at about $27,000. Timmons Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter worth about $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the fourth quarter worth about $30,000. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of Deere & Company during the first quarter worth about $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DE. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday. Bank of America lowered their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Citigroup cut their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.23.

Deere & Company News Roundup

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 Trading Down 1.2%

Shares of NYSE:DE opened at $596.64 on Thursday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The stock has a market cap of $161.06 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.23 and a beta of 0.89. The business has a 50-day moving average price of $580.63 and a 200-day moving average price of $565.99.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the firm earned $6.64 earnings per share. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

Deere & Company 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.