Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 12.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 804,740 shares of the industrial products company's stock after purchasing an additional 88,794 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.30% of Deere & Company worth $377,705,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of DE. Assenagon Asset Management S.A. raised its position in Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after acquiring an additional 5,053 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Deere & Company in the fourth quarter valued at $847,000. Stenger Family Office LLC acquired a new stake in Deere & Company in the fourth quarter valued at $3,144,000. First Business Financial Services Inc. acquired a new stake in Deere & Company in the fourth quarter valued at $4,254,000. Finally, Westpac Banking Corp grew its holdings in Deere & Company by 17.9% in the fourth quarter. Westpac Banking Corp now owns 11,904 shares of the industrial products company's stock valued at $5,044,000 after purchasing an additional 1,809 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
NYSE DE opened at $513.46 on Friday. The firm has a market capitalization of $139.06 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.23 and a beta of 1.09. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The business's 50-day simple moving average is $500.54 and its 200-day simple moving average is $472.74.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company's revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $8.53 EPS. Equities analysts predict that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on DE shares. Morgan Stanley increased their price objective on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. DA Davidson reaffirmed a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Finally, Robert W. Baird increased their price objective on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and an average price target of $515.19.
Check Out Our Latest Research Report on DE
Deere & Company Profile
(
Free Report)
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.
Further Reading
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