UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $852.25 Million Stock Position in Deere & Company $DE

Key Points

• UBS Asset Management increased its stake in Deere & Company by purchasing 35,075 shares, bringing its total holdings to approximately 1.82 million shares, valued at around $852 million.
• Deere & Company reported an earnings per share (EPS) of $4.75 for the last quarter, surpassing analyst estimates, despite a 9% decrease in year-over-year revenue.
• The company announced a quarterly dividend of $1.62 per share, with a dividend yield of 1.3%, set to be paid on November 10th to stockholders of record by September 30th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 2.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,815,817 shares of the industrial products company's stock after purchasing an additional 35,075 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.67% of Deere & Company worth $852,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after buying an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after buying an additional 286,253 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 1,750,163 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock valued at $727,046,000 after acquiring an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock valued at $635,150,000 after acquiring an additional 256,806 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. Raymond James Financial increased their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Barclays boosted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $520.87.

Deere & Company Trading Up 1.0%

DE traded up $4.89 during midday trading on Thursday, hitting $476.24. 1,368,492 shares of the company were exchanged, compared to its average volume of 1,478,417. The firm has a market capitalization of $128.74 billion, a P/E ratio of 24.89, a P/E/G ratio of 3.03 and a beta of 1.00. Deere & Company has a 1-year low of $383.10 and a 1-year high of $533.78. The firm's 50 day moving average price is $498.30 and its 200-day moving average price is $490.35. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results 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. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.29 EPS. As a group, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio is presently 33.87%.

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.