Massmutual Trust Co. FSB ADV Sells 660 Shares of Deere & Company (NYSE:DE)

Massmutual Trust Co. FSB ADV lessened its stake in shares of Deere & Company (NYSE:DE) by 8.0% during the 3rd quarter, Holdings Channel reports. The fund owned 7,602 shares of the industrial products company’s stock after selling 660 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Deere & Company were worth $3,173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its position in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC boosted its position 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 purchasing an additional 372 shares in the last quarter. Brevan Howard Capital Management LP boosted its position 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 purchasing an additional 6,855 shares in the last quarter. Aviance Capital Partners LLC acquired a new stake in shares of Deere & Company in the 1st quarter worth $2,783,000. Finally, Oxford Financial Group LTD. LLC boosted its position 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 purchasing an additional 51 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock 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 current ratio of 2.07 and a quick ratio of 1.87. The firm has a market capitalization of $112.64 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The firm’s 50-day moving average is $382.65 and its two-hundred day moving average is $385.04. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47.

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

Deere & Company Announces Dividend

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 paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent analyst reports. Raymond James initiated coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Finally, Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $410.50.

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.