Candriam S.C.A. Sells 746 Shares of Deere & Company $DE

Key Points

• Candriam S.C.A. reduced its stake in Deere & Company by 3.7%, decreasing its holdings to 19,471 shares, valued at approximately $9.14 million.
• Deere reported a quarterly earnings per share of $4.75, surpassing analysts' expectations, though revenue declined by 9% year-over-year.
• Institutional investors own 68.58% of Deere's stock, with several funds recently increasing their stakes, including a 58.9% increase by Assenagon Asset Management.

Candriam S.C.A. reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,471 shares of the industrial products company's stock after selling 746 shares during the quarter. Candriam S.C.A.'s holdings in Deere & Company were worth $9,139,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after buying an additional 185,671 shares during the period. Northern Trust Corp boosted its position in Deere & Company by 12.8% during the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock worth $1,235,394,000 after acquiring an additional 330,915 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Deere & Company by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock worth $754,500,000 after acquiring an additional 48,941 shares during the last quarter. GAMMA Investing LLC boosted its position in Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Deere & Company by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock worth $727,046,000 after acquiring an additional 25,725 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Robert W. Baird dropped their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Citigroup dropped their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Bank of America upped their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $523.87.

Deere & Company Stock Performance

NYSE DE traded up $8.3320 on Friday, reaching $495.0920. The stock had a trading volume of 1,133,367 shares, compared to its average volume of 1,474,958. The company has a market cap of $134.09 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06. Deere & Company has a 1-year low of $374.46 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a fifty day moving average of $508.58 and a two-hundred day moving average of $490.59.

Deere & Company (NYSE:DE - Get Free Report) last released 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. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $6.29 EPS. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is 33.87%.

Deere & Company 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.