Nippon Life Global Investors Americas Inc. Purchases New Position in Deere & Company $DE

Nippon Life Global Investors Americas Inc. acquired a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,910 shares of the industrial products company’s stock, valued at approximately $1,850,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Brighton Jones LLC boosted its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC bought a new position in shares of Deere & Company in the second quarter valued at approximately $2,153,000. NewEdge Advisors LLC raised its stake in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 0.0%

Shares of DE opened at $608.73 on Monday. The firm has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The business’s fifty day moving average price is $603.23 and its two-hundred day moving average price is $588.27. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $6.64 EPS. On average, analysts predict that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DE. Oppenheimer restated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Robert W. Baird reduced their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. DA Davidson reissued a “buy” rating and issued a $685.00 price objective on shares of Deere & Company in a research note on Friday, July 17th. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $641.98.

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.