Tokio Marine Asset Management Co. Ltd. Raises Stake in Deere & Company (NYSE:DE)

Tokio Marine Asset Management Co. Ltd. increased its stake in Deere & Company (NYSE:DE) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,166 shares of the industrial products company’s stock after purchasing an additional 168 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Deere & Company were worth $2,466,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Briaud Financial Planning Inc bought a new position in Deere & Company in the 3rd quarter worth about $25,000. ZRC Wealth Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new position in Deere & Company in the 4th quarter worth approximately $28,000. Naples Money Management LLC bought a new position in Deere & Company in the 4th quarter worth approximately $29,000. Finally, Bfsg LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $30,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 1.0 %

Shares of NYSE DE traded down $3.99 during midday trading on Thursday, reaching $390.63. 662,091 shares of the company’s stock were exchanged, compared to its average volume of 1,470,359. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The stock has a market capitalization of $108.74 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The business’s fifty day moving average price is $386.62 and its two-hundred day moving average price is $383.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.55 earnings per share. Analysts forecast that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Stifel Nicolaus cut their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Profile

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.