Mitsubishi UFJ Trust & Banking Corp Purchases 1,234 Shares of Deere & Company (NYSE:DE)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Deere & Company (NYSE:DE) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,456 shares of the industrial products company’s stock after purchasing an additional 1,234 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Deere & Company were worth $75,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC grew its position in shares of Deere & Company by 10.0% during the 4th quarter. Ashton Thomas Securities LLC now owns 747 shares of the industrial products company’s stock worth $317,000 after buying an additional 68 shares during the period. Modern Wealth Management LLC grew its holdings in Deere & Company by 5.1% in the fourth quarter. Modern Wealth Management LLC now owns 3,779 shares of the industrial products company’s stock worth $1,776,000 after purchasing an additional 184 shares during the period. CoreFirst Bank & Trust acquired a new stake in Deere & Company in the fourth quarter worth $592,000. Barnett & Company Inc. increased its stake in Deere & Company by 4.0% in the fourth quarter. Barnett & Company Inc. now owns 1,290 shares of the industrial products company’s stock valued at $547,000 after purchasing an additional 50 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC raised its holdings in shares of Deere & Company by 2.0% during the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 65,763 shares of the industrial products company’s stock valued at $27,864,000 after purchasing an additional 1,318 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Robert W. Baird reiterated a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Evercore ISI boosted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Price Performance

Deere & Company stock opened at $479.70 on Wednesday. The business’s 50 day simple moving average is $475.21 and its 200 day simple moving average is $438.25. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market cap of $130.20 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.