Ballentine Partners LLC Trims Stake in Deere & Company $DE

Key Points

• Ballentine Partners LLC has reduced its stake in Deere & Company by 23.0%, now holding 5,374 shares valued at approximately $2.73 million.
• Several hedge funds, including Assenagon Asset Management S.A. and OVERSEA CHINESE BANKING Corp Ltd, have raised their holdings in Deere, indicating a shift in investment sentiment around the company.
• Deere & Company recently declared a quarterly dividend of $1.62 per share, which will be paid on November 10th, representing an annualized yield of 1.4%.

Ballentine Partners LLC reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 23.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,374 shares of the industrial products company's stock after selling 1,601 shares during the period. Ballentine Partners LLC's holdings in Deere & Company were worth $2,733,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after acquiring an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after acquiring an additional 798 shares during the last quarter. Providence Capital Advisors LLC lifted its holdings in shares of Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock worth $6,871,000 after acquiring an additional 303 shares during the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock worth $3,386,000 after acquiring an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company during the 1st quarter worth $13,588,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Robert W. Baird lowered their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Citigroup lowered their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $517.27.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $469.21 on Thursday. The company has a market cap of $126.84 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00. The company has a 50-day moving average price of $491.04 and a 200-day moving average price of $489.89. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating 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 firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm posted $6.29 earnings per share. The company's quarterly revenue was down 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Deere & Company Profile

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.

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