Tokio Marine Asset Management Co. Ltd. Acquires 449 Shares of Deere & Company (NYSE:DE)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Deere & Company (NYSE:DE) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,055 shares of the industrial products company’s stock after acquiring an additional 449 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Deere & Company were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Pineridge Advisors LLC increased its position in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the second quarter valued at approximately $26,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company during the second quarter worth approximately $37,000. Finally, Centennial Bank AR increased its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Finally, Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 1.3 %

DE stock opened at $394.68 on Friday. The company’s 50 day moving average is $403.47 and its 200 day moving average is $385.64. The stock has a market cap of $107.98 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the company posted $10.20 EPS. The business’s quarterly revenue was down 20.3% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s payout ratio is 20.06%.

About Deere & Company

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.