SBI Securities Co. Ltd. Purchases New Shares in Deere & Company (NYSE:DE)

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted 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 acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its position in Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after acquiring an additional 31,459 shares during the period. FMR LLC boosted 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 acquiring an additional 988,380 shares during the period. Fisher Asset Management LLC boosted its position in Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock worth $913,334,000 after acquiring an additional 160,956 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Deere & Company by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after acquiring an additional 107,544 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DE. Truist Financial restated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday. Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $457.22.

Deere & Company Stock Down 1.6 %

DE opened at $458.43 on Wednesday. The business has a 50 day moving average price of $458.13 and a 200 day moving average price of $427.89. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $124.85 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.41%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

About Deere & Company

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.