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J. Safra Sarasin Holding AG Sells 41,572 Shares of Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

Key Points

  • J. Safra Sarasin Holding AG reduced its stake in Deere & Company by 38.5%, selling 41,572 shares and leaving them with 66,547 shares valued at approximately $31.2 million.
  • Institutions hold around 68.58% of Deere & Company's stock, with other investors like Banco Santander S.A. and OVERSEA CHINESE BANKING Corp Ltd also increasing their stakes during the same quarter.
  • Evercore ISI raised the target price for Deere & Company shares from $455 to $493, reflecting positive analyst sentiment, while the stock has experienced a 4.5% decline recently.
  • Five stocks we like better than Deere & Company.

J. Safra Sarasin Holding AG reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 38.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,547 shares of the industrial products company's stock after selling 41,572 shares during the period. J. Safra Sarasin Holding AG's holdings in Deere & Company were worth $31,234,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DE. GAMMA Investing LLC grew its position in shares of 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 valued at $822,781,000 after purchasing an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD grew its position in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. FMR LLC grew its position in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in Deere & Company in the fourth quarter worth $255,686,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 4.5%

Shares of NYSE DE traded down $23.43 on Friday, reaching $500.94. 1,623,054 shares of the company's stock traded hands, compared to its average volume of 1,153,713. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The business's 50 day simple moving average is $512.25 and its two-hundred day simple moving average is $487.73. The company has a market cap of $135.67 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

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 analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the firm earned $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities research analysts forecast 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 Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DE. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Oppenheimer upped their target price on shares of Deere & Company from $555.00 to $560.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Barclays upped their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $515.50.

Check Out Our Latest Report on DE

About Deere & Company

(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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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