Deere & Company (NYSE:DE) is AIA Group Ltd’s 6th Largest Position

AIA Group Ltd grew its holdings in Deere & Company (NYSE:DE) by 29.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 142,655 shares of the industrial products company’s stock after buying an additional 32,723 shares during the period. Deere & Company makes up 2.3% of AIA Group Ltd’s holdings, making the stock its 6th biggest holding. AIA Group Ltd’s holdings in Deere & Company were worth $57,043,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DE. Briaud Financial Planning Inc purchased a new position in shares of Deere & Company in the third quarter worth about $25,000. Retirement Group LLC raised its position in Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after buying an additional 45 shares during the last quarter. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company in the 4th quarter valued at $28,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Deere & Company in the first quarter worth $28,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.4 %

NYSE DE traded up $1.65 on Thursday, reaching $398.53. 687,073 shares of the company were exchanged, compared to its average volume of 1,489,089. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The stock has a market capitalization of $110.93 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The business’s fifty day moving average price is $385.17 and its 200 day moving average price is $382.66. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.55 EPS. Analysts forecast that Deere & Company will post 27.39 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Wells Fargo & Company reduced their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Citigroup decreased their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.28.

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.