Mizuho Securities USA LLC Sells 3,347 Shares of Deere & Company (NYSE:DE)

Mizuho Securities USA LLC trimmed its holdings in Deere & Company (NYSE:DE) by 16.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,618 shares of the industrial products company’s stock after selling 3,347 shares during the quarter. Mizuho Securities USA LLC’s holdings in Deere & Company were worth $6,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Crewe Advisors LLC bought a new position in Deere & Company in the 1st quarter worth approximately $69,000. LGT Group Foundation bought a new position in Deere & Company in the 1st quarter worth approximately $115,000. EP Wealth Advisors LLC boosted its stake in Deere & Company by 19.0% in the 1st quarter. EP Wealth Advisors LLC now owns 2,879 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 460 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of Deere & Company by 3.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 7,609 shares of the industrial products company’s stock valued at $3,125,000 after acquiring an additional 223 shares during the last quarter. Finally, Capital International Inc. CA boosted its position in shares of Deere & Company by 24.9% during the 1st quarter. Capital International Inc. CA now owns 6,661 shares of the industrial products company’s stock valued at $2,736,000 after acquiring an additional 1,326 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DE shares. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

NYSE DE opened at $405.11 on Thursday. The firm has a market capitalization of $110.84 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.54 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 12-month low of $340.20 and a 12-month high of $420.47. The firm’s fifty day simple moving average is $404.97 and its two-hundred day simple moving average is $385.83.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the company earned $8.26 earnings per share. Analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio is presently 20.06%.

Deere & Company 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.