Swiss National Bank Decreases Holdings in Deere & Company (NYSE:DE)

Swiss National Bank cut its holdings in shares of Deere & Company (NYSE:DE) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 777,000 shares of the industrial products company’s stock after selling 5,900 shares during the quarter. Swiss National Bank owned approximately 0.28% of Deere & Company worth $324,265,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Pathway Financial Advisers LLC increased its holdings in Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the last quarter. Swedbank AB purchased a new stake in Deere & Company in the 1st quarter worth about $191,628,000. Mawer Investment Management Ltd. purchased a new stake in Deere & Company in the 2nd quarter worth about $166,937,000. Finally, Dimensional Fund Advisors LP increased its holdings in Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $398.95 on Friday. The business has a 50 day moving average of $404.03 and a 200 day moving average of $385.65. The company has a market capitalization of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.52 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.20 EPS. On average, sell-side analysts predict that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s payout ratio is 20.06%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DE shares. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Oppenheimer reduced their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $420.69.

Deere & 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.