Vontobel Holding Ltd. Cuts Holdings in Deere & Company (NYSE:DE)

Vontobel Holding Ltd. decreased its stake in shares of Deere & Company (NYSE:DE) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,958 shares of the industrial products company’s stock after selling 11,168 shares during the quarter. Vontobel Holding Ltd.’s holdings in Deere & Company were worth $55,905,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth about $26,000. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Olistico Wealth LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at about $37,000. Centennial Bank AR boosted its position in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. boosted its position in shares of Deere & Company by 2,500.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DE shares. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Oppenheimer decreased their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Truist Financial increased their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

NYSE DE traded up $2.95 during mid-day trading on Wednesday, hitting $404.94. The stock had a trading volume of 177,955 shares, compared to its average volume of 1,471,122. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a market cap of $111.59 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a 50 day simple moving average of $389.39 and a 200 day simple moving average of $385.19. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the business posted $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.