Iyo Bank Ltd. Makes New $1.92 Million Investment in Deere & Company (NYSE:DE)

Iyo Bank Ltd. purchased a new position in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,130 shares of the industrial products company’s stock, valued at approximately $1,917,000. Deere & Company comprises 0.7% of Iyo Bank Ltd.’s holdings, making the stock its 28th biggest holding.

A number of other institutional investors have also recently bought and sold shares of DE. Drive Wealth Management LLC grew its position in Deere & Company by 2.3% during the second quarter. Drive Wealth Management LLC now owns 1,851 shares of the industrial products company’s stock worth $694,000 after buying an additional 41 shares in the last quarter. JPL Wealth Management LLC grew its position in Deere & Company by 7.7% during the second quarter. JPL Wealth Management LLC now owns 5,605 shares of the industrial products company’s stock worth $2,094,000 after buying an additional 403 shares in the last quarter. Massachusetts Wealth Management grew its position in Deere & Company by 2.0% during the second quarter. Massachusetts Wealth Management now owns 4,947 shares of the industrial products company’s stock worth $1,848,000 after buying an additional 95 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp grew its position in Deere & Company by 1,697.0% during the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 31,537 shares of the industrial products company’s stock worth $11,783,000 after buying an additional 29,782 shares in the last quarter. Finally, Ritholtz Wealth Management grew its position in Deere & Company by 5.2% during the second quarter. Ritholtz Wealth Management now owns 5,114 shares of the industrial products company’s stock worth $1,911,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several recent analyst reports. TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. DA Davidson cut their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Daiwa Capital Markets upped their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Truist Financial restated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Finally, Oppenheimer dropped their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $414.11.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Trading Up 1.0 %

DE stock traded up $3.92 during trading on Friday, reaching $385.74. The company had a trading volume of 1,413,160 shares, compared to its average volume of 1,615,005. Deere & Company has a 52 week low of $340.20 and a 52 week high of $423.35. The company has a market cap of $106.30 billion, a P/E ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93. The business has a 50 day moving average of $367.94 and a 200 day moving average of $379.81. 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 (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm earned $10.20 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 25.09 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 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.