Deere & Company (DE) Holdings Cut by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Deere & Company (NYSE:DE) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 785,920 shares of the industrial products company’s stock after selling 78,111 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Deere & worth $98,704,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its stake in shares of Deere & by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the industrial products company’s stock worth $2,262,000 after acquiring an additional 300 shares during the last quarter. Bartlett & Co. LLC boosted its holdings in Deere & by 552.8% in the third quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock worth $13,193,000 after purchasing an additional 88,955 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Deere & by 3.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,139,980 shares of the industrial products company’s stock worth $140,891,000 after purchasing an additional 40,269 shares in the last quarter. Cutler Investment Counsel LLC boosted its holdings in Deere & by 1.3% in the second quarter. Cutler Investment Counsel LLC now owns 88,361 shares of the industrial products company’s stock worth $10,921,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its holdings in Deere & by 20.8% in the first quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock worth $46,498,000 after purchasing an additional 73,484 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors.
Shares of Deere & Company (DE) traded up $1.33 during trading on Friday, hitting $135.94. 345,827 shares of the company were exchanged, compared to its average volume of 2,349,754. The company has a current ratio of 2.10, a quick ratio of 1.90 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $42,497.94, a price-to-earnings ratio of 22.16, a P/E/G ratio of 2.39 and a beta of 0.73. Deere & Company has a fifty-two week low of $90.99 and a fifty-two week high of $136.69.
Deere & (NYSE:DE) last issued its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Deere & had a net margin of 8.15% and a return on equity of 31.66%. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the business posted $1.55 earnings per share. Deere &’s revenue for the quarter was up 16.6% compared to the same quarter last year. equities analysts anticipate that Deere & Company will post 6.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.77%. Deere &’s payout ratio is presently 40.20%.
A number of equities research analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $125.00 price objective on shares of Deere & in a report on Wednesday, August 9th. Deutsche Bank AG restated a “hold” rating and set a $139.00 price target (up from $135.00) on shares of Deere & in a report on Friday, August 11th. Robert W. Baird cut shares of Deere & from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $130.00 in a report on Friday, August 18th. BMO Capital Markets restated an “outperform” rating and set a $150.00 price target (up from $140.00) on shares of Deere & in a report on Wednesday, August 16th. Finally, Bank of America Corporation decreased their price target on shares of Deere & from $145.00 to $130.00 and set a “neutral” rating for the company in a report on Monday, August 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $130.08.
In other news, insider Max A. Guinn sold 8,551 shares of Deere & stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $134.89, for a total transaction of $1,153,444.39. Following the transaction, the insider now directly owns 50,939 shares of the company’s stock, valued at $6,871,161.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Pentz Markwart Von sold 22,095 shares of Deere & stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $120.10, for a total transaction of $2,653,609.50. Following the transaction, the insider now directly owns 51,626 shares in the company, valued at $6,200,282.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,141 shares of company stock worth $18,694,199. Insiders own 0.85% of the company’s stock.
About Deere &
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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