Meiji Yasuda Life Insurance Co Has $5.18 Million Holdings in Deere & Company (NYSE:DE)

Meiji Yasuda Life Insurance Co decreased its holdings in Deere & Company (NYSE:DE) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,867 shares of the industrial products company’s stock after selling 1,047 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Deere & Company were worth $5,181,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Parnassus Investments LLC grew its holdings in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after acquiring an additional 705,771 shares in the last quarter. Swedbank AB purchased a new position in Deere & Company in the first quarter valued at about $191,628,000. Mawer Investment Management Ltd. acquired a new position in Deere & Company in the 2nd quarter worth about $166,937,000. Dimensional Fund Advisors LP raised its stake in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DE shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Truist Financial restated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $409.88.

Deere & Company Stock Performance

NYSE DE opened at $397.91 on Wednesday. The company’s fifty day moving average is $373.48 and its two-hundred day moving average is $382.05. The firm has a market capitalization of $109.65 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.29 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $10.20 earnings per share. Equities research analysts forecast that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. Deere & Company’s payout ratio is 17.70%.

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.