Gulf International Bank UK Ltd Sells 915 Shares of Deere & Company (NYSE:DE)

Gulf International Bank UK Ltd reduced its holdings in Deere & Company (NYSE:DE) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,495 shares of the industrial products company’s stock after selling 915 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Deere & Company were worth $8,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pineridge Advisors LLC grew its position in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Fairscale Capital LLC acquired a new stake in Deere & Company in the second quarter worth $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the third quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR lifted its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on DE shares. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley dropped their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Finally, Oppenheimer cut their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Up 0.3 %

Shares of DE opened at $401.68 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $109.90 billion, a PE ratio of 13.70, a P/E/G ratio of 1.52 and a beta of 0.93. The firm’s 50 day moving average is $401.23 and its 200-day moving average is $385.41. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the company posted $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.