Sumitomo Mitsui Trust Group Inc. Sells 3,145 Shares of Deere & Company (NYSE:DE)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 729,241 shares of the industrial products company’s stock after selling 3,145 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Deere & Company were worth $304,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Pathway Financial Advisers LLC increased its position in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after purchasing an additional 852,885 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares in the last quarter. Swedbank AB acquired a new position in shares of Deere & Company during the first quarter valued at about $191,628,000. Mawer Investment Management Ltd. acquired a new stake in Deere & Company during the 2nd quarter worth about $166,937,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 2.2 %

Shares of Deere & Company stock opened at $402.65 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company’s 50-day simple moving average is $403.35 and its 200-day simple moving average is $385.61. The firm has a market cap of $110.17 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned $10.20 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DE shares. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. JPMorgan Chase & Co. boosted their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $420.69.

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.