Sompo Asset Management Co. Ltd. Reduces Stake in Deere & Company (NYSE:DE)

Sompo Asset Management Co. Ltd. lowered its stake in shares of Deere & Company (NYSE:DEFree Report) by 11.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,520 shares of the industrial products company’s stock after selling 190 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Deere & Company were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. NewEdge Wealth LLC boosted its position in Deere & Company by 5.6% during the third quarter. NewEdge Wealth LLC now owns 550 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 29 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Deere & Company by 16.6% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,825 shares of the industrial products company’s stock valued at $20,690,000 after buying an additional 7,797 shares in the last quarter. Monetary Management Group Inc. raised its holdings in Deere & Company by 107.1% during the 3rd quarter. Monetary Management Group Inc. now owns 4,350 shares of the industrial products company’s stock valued at $1,642,000 after acquiring an additional 2,250 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in shares of Deere & Company by 1,786.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 18,866 shares of the industrial products company’s stock worth $7,120,000 after acquiring an additional 17,866 shares in the last quarter. Finally, Homestead Advisers Corp boosted its holdings in shares of Deere & Company by 1.4% in the third quarter. Homestead Advisers Corp now owns 183,422 shares of the industrial products company’s stock worth $69,220,000 after acquiring an additional 2,600 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. DA Davidson decreased their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. TD Cowen raised their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. Citigroup lowered their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $433.36.

Check Out Our Latest Report on DE

Deere & Company Trading Down 0.7 %

Shares of DE stock traded down $2.69 on Friday, hitting $368.58. 1,080,006 shares of the company’s stock traded hands, compared to its average volume of 1,544,897. The stock has a market capitalization of $101.57 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.48 and a beta of 0.98. The company’s fifty day simple moving average is $393.88 and its 200 day simple moving average is $386.05. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period last year, the firm earned $9.65 earnings per share. Equities analysts forecast that Deere & Company will post 25.73 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.60%. Deere & Company’s payout ratio is currently 17.70%.

Deere & Company Profile

(Free Report)

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.

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

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