Sumitomo Life Insurance Co. lessened its stake in Deere & Company (NYSE:DE) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,325 shares of the industrial products company’s stock after selling 433 shares during the period. Sumitomo Life Insurance Co.’s holdings in Deere & Company were worth $851,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DE. Prime Capital Investment Advisors LLC boosted its stake in shares of Deere & Company by 52.8% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 29,050 shares of the industrial products company’s stock valued at $4,643,000 after purchasing an additional 10,041 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Deere & Company in the 1st quarter valued at $368,000. BTIM Corp. boosted its stake in shares of Deere & Company by 5.1% in the 1st quarter. BTIM Corp. now owns 189,366 shares of the industrial products company’s stock valued at $30,268,000 after purchasing an additional 9,251 shares in the last quarter. Cambridge Advisors Inc. purchased a new stake in shares of Deere & Company in the 1st quarter valued at $204,000. Finally, Steinberg Global Asset Management purchased a new stake in shares of Deere & Company in the 1st quarter valued at $398,000. 68.25% of the stock is owned by institutional investors and hedge funds.

Shares of DE stock opened at $169.05 on Friday. Deere & Company has a twelve month low of $128.32 and a twelve month high of $169.99. The company has a market capitalization of $53.84 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.71 and a beta of 0.90. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46.

Deere & Company (NYSE:DE) last announced its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.22). Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the business posted $1.31 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post 11.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, March 29th will be paid a $0.76 dividend. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.80%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

A number of brokerages have recently issued reports on DE. Bank of America cut shares of Deere & Company from a “buy” rating to a “neutral” rating and cut their price objective for the company from $173.00 to $170.00 in a research note on Wednesday, February 13th. OTR Global upgraded Deere & Company to a “positive” rating in a report on Friday, January 18th. Zacks Investment Research lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Wednesday. Credit Suisse Group cut their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 19th. Finally, Citigroup cut their price target on Deere & Company from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $175.07.

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Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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