Sumitomo Mitsui Asset Management Company LTD increased its position in Deere & Company (NYSE:DE) by 41.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 398,749 shares of the industrial products company’s stock after purchasing an additional 116,965 shares during the period. Deere & Company makes up 1.1% of Sumitomo Mitsui Asset Management Company LTD’s investment portfolio, making the stock its 20th largest holding. Sumitomo Mitsui Asset Management Company LTD’s holdings in Deere & Company were worth $63,736,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc lifted its stake in shares of Deere & Company by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock worth $3,412,282,000 after acquiring an additional 210,597 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Deere & Company by 14,550.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 5,179,386 shares during the period. Norges Bank acquired a new stake in Deere & Company during the 4th quarter worth about $582,245,000. Northern Trust Corp lifted its position in Deere & Company by 2.2% during the 4th quarter. Northern Trust Corp now owns 3,879,566 shares of the industrial products company’s stock worth $578,714,000 after acquiring an additional 83,637 shares during the period. Finally, Geode Capital Management LLC lifted its position in Deere & Company by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $544,229,000 after acquiring an additional 244,266 shares during the period. Institutional investors own 68.93% of the company’s stock.
DE has been the subject of a number of research reports. Zacks Investment Research cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. OTR Global raised Deere & Company to a “positive” rating in a research report on Friday, January 18th. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $173.00 to $170.00 in a research report on Wednesday, February 13th. Credit Suisse Group lowered their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a research report on Tuesday, February 19th. Finally, Citigroup lowered their price target on Deere & Company from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $176.71.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.22). The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.83 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. Sell-side analysts anticipate that Deere & Company will post 11.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.04 annualized dividend and a dividend yield of 2.08%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
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Deere & Company 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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