Nippon Life Global Investors Americas Inc. Acquires New Position in Deere & Company $DE

Nippon Life Global Investors Americas Inc. acquired a new stake in Deere & Company (NYSE:DE) during the second quarter, HoldingsChannel reports. The fund acquired 2,910 shares of the industrial products company’s stock, valued at approximately $1,850,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Deere & Company in the 2nd quarter valued at about $2,153,000. NewEdge Advisors LLC raised its position in shares of Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after acquiring an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC raised its position in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $608.73 on Monday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm has a fifty day simple moving average of $603.23 and a 200 day simple moving average of $588.27. The stock has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the business earned $6.64 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a $1.62 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DE. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a report on Friday. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research report on Friday. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, Citigroup raised their price objective on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $641.98.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.