Meiji Yasuda America Inc Invests $2.99 Million in Deere & Company $DE

Meiji Yasuda America Inc purchased a new position in Deere & Company (NYSE:DE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,304 shares of the industrial products company’s stock, valued at approximately $2,988,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Deere & Company during the 2nd quarter valued at approximately $2,153,000. NewEdge Advisors LLC grew its position in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after buying an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $588.06 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market cap of $158.74 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.15 and a beta of 0.89. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The stock’s 50 day simple moving average is $582.48 and its 200 day simple moving average is $573.70.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $6.64 earnings per share. As a group, equities research analysts predict that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DE. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a report on Wednesday, April 8th. Barclays raised their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Robert W. Baird dropped their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Raymond James Financial cut their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Finally, Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.