Sumitomo Life Insurance Co. Has $1.93 Million Stock Holdings in Deere & Company (NYSE:DE)

Sumitomo Life Insurance Co. lifted its position in shares of Deere & Company (NYSE:DE) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 4,620 shares of the industrial products company’s stock after buying an additional 111 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Deere & Company were worth $1,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Centaurus Financial Inc. lifted its holdings in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after purchasing an additional 26 shares in the last quarter. Field & Main Bank grew its position in shares of Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after purchasing an additional 27 shares during the period. Range Financial Group LLC increased its stake in Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 27 shares in the last quarter. Finally, Cooper Financial Group raised its holdings in Deere & Company by 2.4% during the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup boosted their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Oppenheimer dropped their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Up 1.8 %

Deere & Company stock opened at $409.42 on Thursday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company’s 50-day moving average is $390.66 and its 200-day moving average is $385.36. The firm has a market capitalization of $112.82 billion, a PE ratio of 12.32, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 earnings per share. The business’s revenue was down 20.3% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is 17.70%.

About Deere & Company

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.