Tokio Marine Asset Management Co. Ltd. lowered its stake in shares of Deere & Co. (NYSE:DE) by 7.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,813 shares of the company’s stock after selling 751 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Deere & Co. were worth $714,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Sun Life Financial INC acquired a new stake in shares of Deere & Co. during the first quarter valued at $63,594,000. Washington Trust Bank raised its position in Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock valued at $100,000 after buying an additional 460 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Deere & Co. during the first quarter valued at approximately $142,000. Iowa State Bank purchased a new position in Deere & Co. during the second quarter valued at approximately $151,000. Finally, First National Bank & Trust Co. of Newtown purchased a new position in Deere & Co. during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
Shares of Deere & Co. (NYSE:DE) traded up 0.20% during trading on Thursday, reaching $85.29. 2,029,433 shares of the company traded hands. The stock’s 50 day moving average is $84.13 and its 200 day moving average is $81.91. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $88.63. The company has a market capitalization of $26.82 billion, a price-to-earnings ratio of 17.09 and a beta of 0.89.
Deere & Co. (NYSE:DE) last announced its earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company earned $6.72 billion during the quarter. During the same quarter last year, the business earned $1.53 earnings per share. The business’s revenue was down 14.3% compared to the same quarter last year. On average, analysts forecast that Deere & Co. will post $4.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s payout ratio is presently 48.10%.
Several research firms have commented on DE. TheStreet lowered shares of Deere & Co. from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research raised shares of Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective for the company in a research note on Monday, September 12th. Deutsche Bank AG began coverage on shares of Deere & Co. in a research note on Tuesday, September 6th. They set a “hold” rating and a $90.00 price objective for the company. Barclays PLC reaffirmed a “sell” rating and set a $63.00 price objective on shares of Deere & Co. in a research note on Tuesday, September 6th. Finally, Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $70.00 price objective on shares of Deere & Co. in a research note on Tuesday, August 30th. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $82.40.
About Deere & Co.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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