Sarasin & Partners LLP Sells 57,913 Shares of Deere & Company (NYSE:DE)

Sarasin & Partners LLP trimmed its stake in shares of Deere & Company (NYSE:DE - Free Report) by 11.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 455,431 shares of the industrial products company's stock after selling 57,913 shares during the quarter. Deere & Company accounts for 2.3% of Sarasin & Partners LLP's portfolio, making the stock its 20th largest holding. Sarasin & Partners LLP owned approximately 0.17% of Deere & Company worth $213,757,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Deere & Company during the fourth quarter worth $1,244,094,000. GAMMA Investing LLC raised its holdings in shares of Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Deere & Company during the 4th quarter worth about $541,437,000. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Finally, FMR LLC increased its position in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

NYSE DE traded down $3.83 during trading on Thursday, hitting $517.01. 796,815 shares of the company's stock traded hands, compared to its average volume of 1,401,146. The stock has a market capitalization of $140.02 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business has a 50 day moving average of $483.40 and a 200-day moving average of $467.81. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 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 analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company's revenue was down 17.9% compared to the same quarter last year. During the same period last year, the business earned $8.53 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Ratings Changes

DE has been the topic of several recent research reports. Citigroup decreased their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. DA Davidson restated a "buy" rating and set a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. UBS Group reduced their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Evercore ISI increased their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $515.19.

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.