Mitsubishi UFJ Asset Management Co. Ltd. Purchases 25,356 Shares of Deere & Company $DE

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Deere & Company (NYSE:DE) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 535,194 shares of the industrial products company’s stock after purchasing an additional 25,356 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Deere & Company were worth $249,829,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Strategic Advocates LLC bought a new position in shares of Deere & Company in the 3rd quarter worth $25,000. Key Capital Management INC bought a new position in Deere & Company during the 4th quarter valued at $27,000. McIlrath & Eck LLC bought a new position in Deere & Company during the 4th quarter valued at $30,000. Activest Wealth Management lifted its stake in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 27 shares in the last quarter. Finally, Wealth Watch Advisors INC bought a new position in Deere & Company during the 3rd quarter valued at $32,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. UBS Group upped their price objective on shares of Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $765.00 price objective on shares of Deere & Company in a research report on Monday, February 23rd. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Finally, Argus upped their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Trading Down 0.4%

NYSE DE opened at $576.15 on Wednesday. The stock has a market capitalization of $155.62 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.02 and a beta of 0.96. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The business’s fifty day moving average is $588.64 and its 200-day moving average is $530.94.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.19 EPS. Equities research analysts predict that Deere & Company will post 18.01 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.53%.

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.