77,592 Shares in Deere & Company (NYSE:DE) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,592 shares of the industrial products company's stock, valued at approximately $32,948,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Everence Capital Management Inc. raised its holdings in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after buying an additional 7,300 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Deere & Company in the fourth quarter worth about $254,000. Toronto Dominion Bank boosted its stake in shares of Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock valued at $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Czech National Bank grew its holdings in shares of Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after purchasing an additional 2,964 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its position in Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock worth $33,165,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

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Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms have weighed in on DE. UBS Group decreased their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday. Evercore ISI boosted their price target on 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 reiterated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $457.26.

Deere & Company Stock Down 3.4 %

Shares of DE traded down $15.50 during trading hours on Thursday, reaching $437.09. The stock had a trading volume of 780,889 shares, compared to its average volume of 1,431,245. The firm has a 50-day simple moving average of $471.63 and a 200 day simple moving average of $442.69. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $118.63 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's payout ratio is currently 28.72%.

About Deere & Company

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.