Deere & Company (NYSE:DE) Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. cut its position in Deere & Company (NYSE:DE) by 21.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,432 shares of the industrial products company’s stock after selling 682 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Deere & Company were worth $972,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DE. True Wealth Design LLC boosted its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company in the fourth quarter worth about $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth about $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on DE. Oppenheimer reiterated an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. TD Cowen increased their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Evercore ISI raised their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Daiwa Capital Markets raised their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $433.36.

Deere & Company Trading Up 0.0 %

Shares of DE traded up $0.05 during midday trading on Friday, hitting $378.00. 1,485,224 shares of the stock were exchanged, compared to its average volume of 1,325,963. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The stock has a fifty day simple moving average of $390.39 and a 200 day simple moving average of $386.25. The firm has a market cap of $104.17 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.52 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. During the same period last year, the business posted $9.65 earnings per share. On average, research analysts anticipate that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.56%. Deere & Company’s dividend payout ratio (DPR) is presently 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.