OVERSEA CHINESE BANKING Corp Ltd Has $3.86 Million Stake in Deere & Company (NYSE:DE)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Deere & Company by 10.7% in the first quarter, valuing the stake at approximately $3.86 million.
• Deere & Company reported earnings per share (EPS) of $6.64 for the last quarter, exceeding estimates of $5.72, although revenue decreased by 17.9% year-over-year.
• The company's quarterly dividend of $1.62 per share reflects a yield of 1.3%, with a payout ratio of 31.35%.

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,280 shares of the industrial products company's stock after buying an additional 798 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Deere & Company were worth $3,863,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DE. Hughes Financial Services LLC bought a new stake in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company in the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $3.61 on Wednesday, hitting $512.19. 244,624 shares of the company were exchanged, compared to its average volume of 1,333,256. Deere & Company has a 1-year low of $343.38 and a 1-year high of $533.78. The stock has a market capitalization of $138.72 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 3.24 and a beta of 1.06. The company has a 50-day moving average price of $512.25 and a 200 day moving average price of $488.25. 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 issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company posted $8.53 earnings per share. As a group, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays increased their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Morgan Stanley raised their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Raymond James Financial increased their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of "Hold" and an average price target of $515.50.

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.