SBI Securities Co. Ltd. Takes Position in Deere & Company (NYSE:DE)

SBI Securities Co. Ltd. acquired a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 994 shares of the industrial products company’s stock, valued at approximately $421,000.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Everence Capital Management Inc. grew its position in 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 valued at $5,179,000 after acquiring an additional 7,300 shares during the period. Stockbridge Partners LLC grew its position in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Compass Financial Services Inc bought a new stake in Deere & Company in the fourth quarter valued at $254,000. Toronto Dominion Bank grew its position in Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after acquiring an additional 1,291 shares during the period. Finally, Chase Investment Counsel Corp grew its position in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,400 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Down 1.6 %

Shares of DE opened at $458.43 on Wednesday. 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 has a 12-month low of $340.20 and a 12-month high of $515.05. The firm has a market capitalization of $124.85 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The stock’s fifty day simple moving average is $458.13 and its 200-day simple moving average is $427.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analyst Upgrades and Downgrades

DE has been the topic of a number of analyst reports. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Citigroup upped their price target on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Truist Financial restated a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $457.22.

Deere & 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.