OVERSEA CHINESE BANKING Corp Ltd Sells 5,000 Shares of Deere & Company $DE

Key Points

• OVERSEA CHINESE BANKING Corp Ltd cut its stake in Deere by 71.4% in Q4, selling 5,000 shares and leaving 2,000 shares valued at $931,000.
• Deere beat quarterly expectations (EPS $2.42 vs $1.90; revenue $9.61B vs $7.50B, +17.5% YoY) and announced a $1.62 quarterly dividend ($6.48 annual, ~1.1% yield).
• The stock has a market cap of $156.7B and a consensus analyst rating of "Moderate Buy" with an average target of $655.45 (16 Buys, 9 Holds); DE trades near $580 with a 52‑week range of $433–$674.19.

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 71.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,000 shares of the industrial products company's stock after selling 5,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Deere & Company were worth $931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strategic Advocates LLC bought a new stake in shares of Deere & Company during the third quarter worth about $25,000. Key Capital Management INC bought a new stake in shares of Deere & Company during the fourth quarter worth about $27,000. Activest Wealth Management grew its holdings in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock worth $30,000 after purchasing an additional 27 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the third quarter worth about $32,000. Finally, United Community Bank grew its holdings in shares of Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company's stock worth $42,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock opened at $580.27 on Thursday. The business's 50 day simple moving average is $594.50 and its 200 day simple moving average is $524.44. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The stock has a market capitalization of $156.74 billion, a PE ratio of 32.71, a PEG ratio of 2.05 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion for the quarter, compared to analysts' expectations of $7.50 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The firm's revenue was up 17.5% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 18 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company's dividend payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

DE has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. Robert W. Baird reduced their price target on Deere & Company from $675.00 to $580.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price target on the stock in a report on Wednesday, April 8th. Wells Fargo & Company boosted their price target on Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a report on Friday, February 20th. Finally, Royal Bank Of Canada boosted their price target on Deere & Company from $541.00 to $736.00 and gave the stock an "outperform" rating in a report on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $655.45.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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