Massmutual Trust Co. FSB ADV Reduces Stake in Deere & Company (NYSE:DE)

Massmutual Trust Co. FSB ADV lowered its holdings in Deere & Company (NYSE:DE) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,602 shares of the industrial products company’s stock after selling 660 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Deere & Company were worth $3,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after buying an additional 372 shares during the last quarter. Brevan Howard Capital Management LP boosted its stake in shares of Deere & Company by 857.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after buying an additional 6,855 shares during the last quarter. Aviance Capital Partners LLC purchased a new position in shares of Deere & Company in the 1st quarter worth $2,783,000. Finally, Oxford Financial Group LTD. LLC boosted its stake in shares of Deere & Company by 2.9% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DE. Citigroup dropped their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. 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. JPMorgan Chase & Co. lowered their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Oppenheimer lowered 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 assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $410.50.

Deere & Company Trading Down 1.9 %

Shares of NYSE DE opened at $408.74 on Friday. 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 business’s 50 day moving average price is $382.65 and its 200-day moving average price is $385.04. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a market cap of $112.64 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $10.20 earnings per share. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

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.