Deere & Company (NYSE:DE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Deere & Company (NYSE:DE - Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 729,241 shares of the industrial products company's stock after selling 3,145 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Deere & Company worth $304,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Headlands Technologies LLC acquired a new position in shares of Deere & Company during the first quarter worth $138,000. Sheets Smith Wealth Management acquired a new stake in shares of Deere & Company in the first quarter valued at about $257,000. Entropy Technologies LP purchased a new stake in shares of Deere & Company during the first quarter worth approximately $1,637,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Deere & Company by 1.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 128,196 shares of the industrial products company's stock worth $52,655,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings in shares of Deere & Company by 1.8% in the first quarter. Koshinski Asset Management Inc. now owns 24,773 shares of the industrial products company's stock valued at $10,175,000 after purchasing an additional 427 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DE shares. Citigroup boosted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an "in-line" rating in a research report on Monday, August 19th. HSBC downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, August 19th. Truist Financial upped their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a research note on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $420.69.

Deere & Company Price Performance

DE traded down $7.21 on Tuesday, hitting $395.44. 558,478 shares of the company were exchanged, compared to its average volume of 1,430,587. The business's fifty day moving average is $403.35 and its 200 day moving average is $385.61. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market capitalization of $108.19 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts' expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company's revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.20 earnings per share. As a group, sell-side analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company's dividend payout ratio is presently 20.06%.

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.