Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Deere & Company (NYSE:DE)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Deere & Company (NYSE:DE) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,410 shares of the industrial products company’s stock after buying an additional 88 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Deere & Company were worth $14,580,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 3rd quarter worth $32,000. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $32,000. YANKCOM Partnership bought a new position in Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter valued at $35,000. Finally, Continuum Advisory LLC grew its holdings in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DE. Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley lifted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Citigroup reduced their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Finally, Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $444.50.

Deere & Company Trading Up 0.1 %

DE stock opened at $465.63 on Friday. The firm has a fifty day moving average price of $445.01 and a 200 day moving average price of $412.26. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The firm has a market cap of $126.82 billion, a PE ratio of 18.19, a price-to-earnings-growth 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.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping 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 business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the company posted $8.26 EPS. The business’s revenue was down 32.8% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

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

Deere & Company Profile

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.