Deere & Company (NYSE:DE) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Deere & Company by 27.1%, selling 5,491 shares, leaving them with a total of 14,769 shares valued at approximately $6.93 million.
• Deere & Company reported $6.64 EPS for the last quarter, exceeding estimates by $0.92, although the revenue was down 17.9% year-over-year.
• The company recently announced a quarterly dividend of $1.62 per share, representing a 1.3% yield and a payout ratio of 31.35%.

Gulf International Bank UK Ltd lowered its stake in Deere & Company (NYSE:DE - Free Report) by 27.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,769 shares of the industrial products company's stock after selling 5,491 shares during the quarter. Gulf International Bank UK Ltd's holdings in Deere & Company were worth $6,931,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in 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 valued at $6,395,000 after purchasing an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in 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 valued at $3,863,000 after purchasing an additional 798 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in Deere & Company during the 1st quarter valued at approximately $13,588,000. Stenger Family Office LLC acquired a new stake in Deere & Company during the 4th quarter valued at approximately $3,144,000. Finally, Stratos Investment Management LLC acquired a new stake in Deere & Company during the 1st quarter valued at approximately $271,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Down 0.2%

Shares of NYSE DE opened at $506.07 on Wednesday. The stock's 50 day simple moving average is $512.30 and its 200 day simple moving average is $489.69. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company has a market cap of $137.06 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 3.21 and a beta of 1.06. Deere & Company has a 12-month low of $346.00 and a 12-month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.53 EPS. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. 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 payout ratio is presently 31.35%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DE shares. Raymond James Financial raised their price objective on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Truist Financial increased their target price on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. DA Davidson reaffirmed a "buy" rating and set a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Deere & Company has a consensus rating of "Hold" and a consensus price target of $523.93.

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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