Iyo Bank Ltd. Purchases 3,910 Shares of Deere & Company (NYSE:DE)

Iyo Bank Ltd. boosted its holdings in Deere & Company (NYSE:DE) by 76.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,040 shares of the industrial products company’s stock after buying an additional 3,910 shares during the period. Deere & Company accounts for approximately 1.3% of Iyo Bank Ltd.’s holdings, making the stock its 23rd biggest position. Iyo Bank Ltd.’s holdings in Deere & Company were worth $3,773,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its position in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares in the last quarter. Balentine LLC bought a new stake in Deere & Company in the third quarter worth $710,000. Royal Fund Management LLC raised its stake in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares in the last quarter. New Century Financial Group LLC purchased a new position in shares of Deere & Company in the 3rd quarter worth $1,052,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth about $24,984,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 2.2 %

Shares of Deere & Company stock opened at $402.65 on Tuesday. The company has a market cap of $110.17 billion, a P/E ratio of 13.74, a PEG ratio of 1.50 and a beta of 0.93. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm’s 50 day moving average price is $403.35 and its 200-day moving average price is $385.61.

Deere & Company (NYSE:DE) last issued its quarterly 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 analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.20 earnings per share. On average, sell-side analysts predict that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.46%. Deere & Company’s payout ratio is presently 20.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DE. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley reduced their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $420.69.

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.