OVERSEA CHINESE BANKING Corp Ltd Sells 1,280 Shares of Deere & Company $DE

by · The Cerbat Gem

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Deere & Company (NYSE:DE – Free Report) by 15.5% during the second quarter, HoldingsChannel reports. The firm owned 7,000 shares of the industrial products company’s stock after selling 1,280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Deere & Company were worth $3,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of DE. Nuveen LLC bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $571,073,000. TD Asset Management Inc raised its holdings in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after purchasing an additional 410,636 shares during the period. Voya Investment Management LLC raised its holdings in shares of Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.1%

Shares of NYSE:DE opened at $477.76 on Tuesday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The firm has a fifty day moving average of $469.62 and a 200 day moving average of $489.44. The firm has a market capitalization of $129.15 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE – Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business earned $6.29 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s payout ratio is 33.87%.

Wall Street Analyst Weigh In

A number of research firms recently commented on DE. Oppenheimer lowered their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. DA Davidson lowered their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Truist Financial boosted their target price on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Finally, Citigroup lowered their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $518.72.

Get Our Latest Research Report on Deere & Company

Deere & Company Profile

(Free Report)

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

See Also

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