Nippon Life Global Investors Americas Inc. Decreases Holdings in Deere & Company (DE)

Nippon Life Global Investors Americas Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 59.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,910 shares of the industrial products company’s stock after selling 31,980 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Deere & Company were worth $3,294,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bray Capital Advisors raised its stake in shares of Deere & Company by 96.0% in the third quarter. Bray Capital Advisors now owns 4,797 shares of the industrial products company’s stock valued at $721,000 after acquiring an additional 2,350 shares in the last quarter. Robecosam AG raised its stake in shares of Deere & Company by 7.5% in the third quarter. Robecosam AG now owns 46,431 shares of the industrial products company’s stock valued at $7,021,000 after acquiring an additional 3,237 shares in the last quarter. Partnervest Advisory Services LLC acquired a new stake in shares of Deere & Company in the third quarter valued at $214,000. Reliance Trust Co. of Delaware raised its stake in shares of Deere & Company by 177.7% in the third quarter. Reliance Trust Co. of Delaware now owns 5,442 shares of the industrial products company’s stock valued at $818,000 after acquiring an additional 3,482 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of Deere & Company in the third quarter valued at $210,000. Institutional investors own 66.65% of the company’s stock.

DE has been the topic of several analyst reports. Goldman Sachs Group cut Deere & Company from a “conviction-buy” rating to a “buy” rating in a research note on Monday, July 16th. OTR Global cut Deere & Company to a “$139.21” rating in a research note on Wednesday, July 18th. UBS Group cut their price target on Deere & Company from $185.00 to $177.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. JPMorgan Chase & Co. set a $145.00 price target on Deere & Company and gave the company a “hold” rating in a research note on Monday, August 13th. Finally, Stifel Nicolaus cut their price target on Deere & Company from $193.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $177.75.

Deere & Company stock opened at $141.72 on Friday. Deere & Company has a 1-year low of $128.32 and a 1-year high of $175.26. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.66 and a current ratio of 1.91. The firm has a market capitalization of $43.57 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.51 and a beta of 0.97.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.75 by ($0.16). The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.18 billion. Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.97 earnings per share. As a group, analysts anticipate that Deere & Company will post 9.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Friday, September 28th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, September 27th. Deere & Company’s payout ratio is 41.32%.

About Deere & Company

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

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

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