Meiji Yasuda Asset Management Co Ltd. Cuts Stock Position in Deere & Company (NYSE:DE)

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in Deere & Company (NYSE:DE) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,252 shares of the industrial products company’s stock after selling 496 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Deere & Company were worth $1,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DE. True Wealth Design LLC lifted its stake in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Deere & Company in the fourth quarter valued at $30,000. Spartan Planning & Wealth Management acquired a new stake in Deere & Company in the fourth quarter valued at $33,000. Finally, Core Wealth Advisors Inc. raised its stake in Deere & Company by 466.7% in the fourth quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock valued at $34,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Stock Up 2.1 %

DE stock opened at $409.53 on Friday. The stock has a market capitalization of $112.85 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company has a fifty day moving average of $375.43 and a 200-day moving average of $382.37. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a one year low of $340.20 and a one year high of $417.46.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the firm earned $10.20 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. As a group, analysts expect that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Citigroup dropped their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Bank of America boosted their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $409.88.

About Deere & Company

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.