Mirae Asset Global Investments Co. Ltd. Buys 17,346 Shares of Deere & Company (NYSE:DE)

Mirae Asset Global Investments Co. Ltd. raised its stake in Deere & Company (NYSE:DE) by 52.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,581 shares of the industrial products company’s stock after purchasing an additional 17,346 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Deere & Company were worth $21,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Cornerstone Wealth Group LLC increased its stake in Deere & Company by 153.7% in the first quarter. Cornerstone Wealth Group LLC now owns 2,273 shares of the industrial products company’s stock valued at $934,000 after purchasing an additional 1,377 shares in the last quarter. Optas LLC acquired a new position in shares of Deere & Company during the first quarter valued at about $201,000. Chapin Davis Inc. grew its holdings in shares of Deere & Company by 3.4% during the first quarter. Chapin Davis Inc. now owns 1,839 shares of the industrial products company’s stock valued at $755,000 after buying an additional 60 shares during the last quarter. Aviance Capital Partners LLC acquired a new position in shares of Deere & Company during the first quarter valued at about $2,783,000. Finally, Diversified Trust Co grew its holdings in shares of Deere & Company by 10.2% during the first quarter. Diversified Trust Co now owns 4,448 shares of the industrial products company’s stock valued at $1,827,000 after buying an additional 412 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 0.8 %

DE opened at $407.93 on Friday. 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 stock has a market cap of $112.41 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company’s 50-day moving average price is $397.89 and its two-hundred day moving average price is $385.35.

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, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $10.20 earnings per share. As a group, equities analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analyst Ratings Changes

DE has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial lifted their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $420.69.

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.