Mitsubishi UFJ Asset Management Co. Ltd. Acquires 35,074 Shares of Deere & Company (NYSE:DE)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 409,105 shares of the industrial products company's stock after buying an additional 35,074 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of Deere & Company worth $172,732,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DE. Robertson Stephens Wealth Management LLC lifted its stake in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock valued at $426,000 after acquiring an additional 22 shares during the last quarter. DLK Investment Management LLC raised its position in Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock valued at $3,479,000 after purchasing an additional 24 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock worth $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in shares of Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock valued at $236,000 after buying an additional 25 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

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Deere & Company Stock Up 1.9 %

Deere & Company stock traded up $8.75 during mid-day trading on Tuesday, reaching $478.10. The stock had a trading volume of 228,813 shares, compared to its average volume of 1,415,953. The firm has a market capitalization of $129.76 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The stock's 50-day simple moving average is $477.56 and its 200-day simple moving average is $440.70. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

Several research firms recently commented on DE. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Robert W. Baird reissued a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Citigroup raised their target price on Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, StockNews.com upgraded Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $460.00.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.