AIA Group Ltd Increases Stock Holdings in Deere & Company (NYSE:DE)

AIA Group Ltd increased its holdings in Deere & Company (NYSE:DE) by 29.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,655 shares of the industrial products company’s stock after acquiring an additional 32,723 shares during the quarter. Deere & Company comprises about 2.3% of AIA Group Ltd’s investment portfolio, making the stock its 6th biggest holding. AIA Group Ltd owned about 0.05% of Deere & Company worth $57,043,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its holdings in Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after acquiring an additional 3,216,801 shares in the last quarter. Norges Bank bought a new position in Deere & Company in the 4th quarter worth about $1,326,177,000. International Assets Investment Management LLC grew its position in Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after purchasing an additional 838,813 shares during the last quarter. Morgan Stanley grew its position in Deere & Company by 13.8% during the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock valued at $1,962,085,000 after purchasing an additional 554,133 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Deere & Company by 561.5% during the 1st quarter. First Trust Advisors LP now owns 531,339 shares of the industrial products company’s stock valued at $219,379,000 after purchasing an additional 451,019 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE traded up $1.65 on Thursday, hitting $398.53. 687,073 shares of the company traded hands, compared to its average volume of 1,489,089. The business’s 50 day moving average price is $385.17 and its 200-day moving average price is $382.66. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $110.93 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.48 and a beta of 1.04.

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

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Analyst Ratings Changes

A number of research firms have recently commented on DE. Stifel Nicolaus cut their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Citigroup lowered their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Morgan Stanley started coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.