Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Deere & Company $DE

Key Points

• Zurcher Kantonalbank cut its stake in Deere & Company by 18.8% in Q4, selling 30,420 shares and ending the period with 131,475 shares worth about $61.21 million.
• Deere materially beat expectations for the quarter with EPS of $2.42 versus $1.90 expected and revenue of $9.61 billion versus $7.50 billion expected, marking a 17.5% year‑over‑year revenue increase.
• The company announced a quarterly dividend of $1.62 (annualized $6.48, yield ~1.1%), and analysts maintain a Moderate Buy consensus with a $655.45 target price after several price‑target revisions.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Deere & Company (NYSE:DE - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,475 shares of the industrial products company's stock after selling 30,420 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Deere & Company were worth $61,211,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Strategic Advocates LLC purchased a new position in Deere & Company in the 3rd quarter worth approximately $25,000. Key Capital Management INC purchased a new stake in Deere & Company during the 4th quarter valued at approximately $27,000. Activest Wealth Management grew its holdings in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock valued at $30,000 after buying an additional 27 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the third quarter valued at approximately $32,000. Finally, United Community Bank raised its position 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 valued at $42,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Up 0.8%

DE stock opened at $595.10 on Tuesday. The firm has a fifty day moving average price of $595.28 and a 200 day moving average price of $523.17. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The firm has a market cap of $160.74 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company's payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America upped their target price on shares of Deere & Company from $502.00 to $672.00 and gave the stock a "neutral" rating in a research report on Friday, February 20th. Raymond James Financial reiterated an "outperform" rating and issued a $765.00 price target on shares of Deere & Company in a report on Monday, February 23rd. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Robert W. Baird dropped their price objective on shares of Deere & Company from $675.00 to $580.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Finally, Wells Fargo & Company raised their price objective on Deere & Company from $543.00 to $750.00 and gave the company an "overweight" rating in a research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $655.45.

About Deere & Company

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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