Sumitomo Mitsui DS Asset Management Company Ltd Has $14.32 Million Stake in Deere & Company (NYSE:DE)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Deere & Company (NYSE:DE) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,322 shares of the industrial products company’s stock after purchasing an additional 1,523 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Deere & Company were worth $14,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC grew its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Olistico Wealth LLC bought a new position in Deere & Company during the second quarter worth about $37,000. Centennial Bank AR grew its holdings in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. grew its holdings in Deere & Company by 2,500.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Up 0.9 %

Shares of DE opened at $408.73 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a market cap of $112.63 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a 50 day simple moving average of $393.03 and a two-hundred day simple moving average of $385.53.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. Research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Deere & 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.