Daiwa Securities Group Inc. Increases Stake in Deere & Company (NYSE:DE)

Daiwa Securities Group Inc. lifted its stake in Deere & Company (NYSE:DE) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,623 shares of the industrial products company’s stock after purchasing an additional 368 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Deere & Company were worth $18,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. FMR LLC raised its position in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Deere & Company during the 4th quarter worth approximately $296,232,000. Stockbridge Partners LLC raised its position in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in Deere & Company by 52,200.3% during the 4th quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after buying an additional 529,833 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 2.2 %

Shares of DE opened at $488.69 on Tuesday. 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. The firm’s fifty day moving average is $462.49 and its two-hundred day moving average is $430.99. The stock has a market cap of $132.64 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.33%. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DE shares. StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Robert W. Baird reissued a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $460.00.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by insiders.

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.