Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,277,820 shares of the industrial products company’s stock after selling 13,876 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Deere & Company were worth $204,247,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Oregon Public Employees Retirement Fund increased its position in shares of Deere & Company by 14,550.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 5,179,386 shares in the last quarter. Norges Bank acquired a new stake in shares of Deere & Company during the fourth quarter worth about $582,245,000. JPMorgan Chase & Co. increased its position in shares of Deere & Company by 67.0% during the first quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock worth $596,683,000 after purchasing an additional 1,497,433 shares in the last quarter. Janus Henderson Group PLC increased its position in Deere & Company by 47.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,749,227 shares of the industrial products company’s stock valued at $439,432,000 after acquiring an additional 886,561 shares during the period. Finally, Morgan Stanley increased its position in Deere & Company by 56.1% in the 3rd quarter. Morgan Stanley now owns 1,874,873 shares of the industrial products company’s stock valued at $281,850,000 after acquiring an additional 674,058 shares during the period. Institutional investors and hedge funds own 68.93% of the company’s stock.
Several equities analysts recently issued reports on DE shares. Argus boosted their price target on Deere & Company to $175.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Barclays restated a “buy” rating and issued a $180.00 price target on shares of Deere & Company in a research report on Tuesday, February 19th. Citigroup dropped their price target on Deere & Company from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, February 19th. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research report on Thursday, February 14th. Finally, Stifel Nicolaus dropped their price target on Deere & Company from $180.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. Deere & Company currently has a consensus rating of “Hold” and an average price target of $170.20.
DE traded down $0.47 during trading on Monday, reaching $134.35. The company’s stock had a trading volume of 1,444,655 shares, compared to its average volume of 1,746,224. Deere & Company has a 52-week low of $128.32 and a 52-week high of $169.99. The firm has a market capitalization of $42.94 billion, a PE ratio of 14.31, a P/E/G ratio of 1.42 and a beta of 0.90. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.57 by ($0.05). Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period in the prior year, the firm posted $3.14 EPS. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 11.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, March 28th. Deere & Company’s dividend payout ratio is presently 32.37%.
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Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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