Vontobel Holding Ltd. Decreases Stake in Deere & Company $DE

Vontobel Holding Ltd. cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 18.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,937 shares of the industrial products company's stock after selling 18,722 shares during the period. Vontobel Holding Ltd.'s holdings in Deere & Company were worth $43,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Brighton Jones LLC raised its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Portside Wealth Group LLC raised its position in Deere & Company by 18.7% during the first quarter. Portside Wealth Group LLC now owns 693 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 109 shares during the period. Farther Finance Advisors LLC raised its position in Deere & Company by 27.4% during the first quarter. Farther Finance Advisors LLC now owns 3,220 shares of the industrial products company's stock valued at $1,541,000 after purchasing an additional 692 shares during the period. GAMMA Investing LLC raised its position in Deere & Company by 30.6% during the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock valued at $1,753,000 after purchasing an additional 876 shares during the period. Finally, Simplicity Wealth LLC raised its position in Deere & Company by 91.5% during the first quarter. Simplicity Wealth LLC now owns 1,061 shares of the industrial products company's stock valued at $498,000 after purchasing an additional 507 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.1%

Shares of NYSE:DE opened at $461.06 on Thursday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market cap of $124.64 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The business's 50 day moving average is $481.60 and its 200 day moving average is $488.75. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.29 EPS. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is 33.87%.

Analyst Ratings Changes

A number of research analysts have recently commented on DE shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Deere & Company in a research note on Wednesday. Daiwa Capital Markets cut their target price on Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, September 25th. Truist Financial upped their target price on Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a research note on Wednesday. Robert W. Baird cut their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Finally, Wolfe Research cut their target price on Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Moderate Buy" and a consensus target price of $518.59.

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.

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