Dai ichi Life Insurance Company Ltd Has $6.71 Million Holdings in Deere & Company (NYSE:DE)

Dai ichi Life Insurance Company Ltd raised its holdings in shares of Deere & Company (NYSE:DE) by 88.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,779 shares of the industrial products company’s stock after buying an additional 7,853 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Deere & Company were worth $6,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Deere & Company in the fourth quarter valued at $1,248,036,000. International Assets Investment Management LLC grew its holdings in shares of Deere & Company by 46,241.1% during the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares during the last quarter. FMR LLC grew its holdings in shares of Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Deere & Company by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after purchasing an additional 160,369 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,480,725 shares of the industrial products company’s stock worth $592,098,000 after purchasing an additional 149,980 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 0.3 %

Shares of NYSE:DE traded up $1.34 on Wednesday, reaching $388.08. 486,193 shares of the company traded hands, compared to its average volume of 1,463,636. The business’s 50-day simple moving average is $399.81 and its 200 day simple moving average is $386.47. 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 $108.03 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period last year, the firm earned $9.65 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 26.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

A number of research firms have recently commented on DE. Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. Citigroup decreased their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Wells Fargo & Company decreased their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Finally, DA Davidson decreased their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $433.53.

Deere & Company 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.