Sumitomo Mitsui DS Asset Management Company Ltd Purchases 88 Shares of Deere & Company (NYSE:DE)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Deere & Company (NYSE:DE) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 34,410 shares of the industrial products company’s stock after acquiring an additional 88 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Deere & Company were worth $14,580,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC lifted its stake in Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares during the last quarter. DLK Investment Management LLC lifted its stake in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 24 shares during the last quarter. Mattern Wealth Management LLC boosted its holdings in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares during the period. Carret Asset Management LLC grew its position in Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after acquiring an additional 25 shares during the last quarter. Finally, Round Rock Advisors LLC increased its stake in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 25 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DE. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Citigroup reduced their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $444.50.

Deere & Company Stock Performance

DE stock opened at $465.63 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The firm has a market cap of $126.82 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a 50-day simple moving average of $445.01 and a two-hundred day simple moving average of $412.26.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the company posted $8.26 earnings per share. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

About Deere & Company

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.