J. Safra Sarasin Holding AG Sells 2,735 Shares of Deere & Company $DE

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Deere & Company by 4.1%, selling 2,735 shares, leaving it with a total of 63,812 shares worth approximately $32.45 million as of the end of the last quarter.
• Several analysts have modified their ratings for Deere & Company, with Melius upgrading the stock to a "buy," while Wall Street Zen downgraded it to a "sell," indicating mixed sentiment among investors.
• Deere & Company also announced a quarterly dividend of $1.62 per share, which will be paid out on November 10th, reflecting a 1.4% dividend yield and a payout ratio of 33.87%.

J. Safra Sarasin Holding AG lowered its position in Deere & Company (NYSE:DE - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,812 shares of the industrial products company's stock after selling 2,735 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Deere & Company were worth $32,448,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management grew its position in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company in the first quarter worth $29,000. Cornerstone Planning Group LLC grew its position in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Deere & Company in the second quarter worth $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Deere & Company in the second quarter worth $39,000. Institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Robert W. Baird cut 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 report on Friday, August 15th. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $518.06.

Deere & Company Stock Performance

Shares of DE opened at $451.43 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a 50-day simple moving average of $486.80 and a two-hundred day simple moving average of $489.36. The firm has a market capitalization of $122.04 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03.

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, 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 business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the business posted $6.29 earnings per share. Deere & Company's quarterly revenue was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

About Deere & Company

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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