Sumitomo Life Insurance Co. Has $1.35 Million Holdings in Deere & Company (NYSE:DE)

Sumitomo Life Insurance Co. cut its holdings in shares of Deere & Company (NYSE:DE) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,375 shares of the industrial products company’s stock after selling 172 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Deere & Company were worth $1,350,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Retirement Group LLC raised its stake in shares of Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Deere & Company during the 3rd quarter worth about $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Worth Asset Management LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth about $28,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Deere & Company during the 3rd quarter worth about $37,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 3.8 %

Shares of DE stock opened at $397.27 on Monday. The stock’s fifty day moving average price is $384.71 and its two-hundred day moving average price is $382.39. The company has a market cap of $110.58 billion, a PE ratio of 11.57, a P/E/G ratio of 1.49 and a beta of 1.04. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business posted $6.55 EPS. Equities analysts predict that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Finally, Citigroup cut their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company 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.