Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Deere & Company (NYSE:DE) by 22.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,910 shares of the industrial products company’s stock after selling 29,260 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Deere & Company were worth $14,107,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. grew its position in shares of Deere & Company by 5.5% in the 1st quarter. BlackRock Inc. now owns 18,857,199 shares of the industrial products company’s stock worth $2,928,897,000 after acquiring an additional 978,907 shares in the last quarter. Findlay Park Partners LLP acquired a new position in shares of Deere & Company in the 1st quarter worth approximately $113,317,000. Cornerstone Wealth Management LLC grew its position in shares of Deere & Company by 15,691.5% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 515,749 shares of the industrial products company’s stock worth $3,654,000 after acquiring an additional 512,483 shares in the last quarter. Suvretta Capital Management LLC acquired a new position in shares of Deere & Company in the 1st quarter worth approximately $77,512,000. Finally, Sarasin & Partners LLP grew its position in shares of Deere & Company by 1,499.0% in the 1st quarter. Sarasin & Partners LLP now owns 319,797 shares of the industrial products company’s stock worth $49,671,000 after acquiring an additional 299,797 shares in the last quarter. Institutional investors own 66.51% of the company’s stock.
Several research analysts have recently commented on the company. Bank of America upgraded Deere & Company from a “neutral” rating to a “buy” rating and set a $159.00 target price for the company in a research report on Thursday, May 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $200.00 target price on shares of Deere & Company in a research report on Wednesday, April 18th. UBS Group decreased their target price on Deere & Company from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Friday, July 20th. OTR Global lowered Deere & Company to a “$139.21” rating in a research report on Wednesday, July 18th. Finally, TheStreet upgraded Deere & Company from a “c+” rating to an “a-” rating in a research report on Friday, May 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $181.42.
Deere & Company opened at $137.05 on Friday, MarketBeat.com reports. Deere & Company has a 12-month low of $112.87 and a 12-month high of $175.26. The company has a market cap of $45.34 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.55 and a beta of 0.85. The company has a quick ratio of 1.64, a current ratio of 1.91 and a debt-to-equity ratio of 2.52.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, May 18th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.33 by ($0.19). Deere & Company had a net margin of 5.46% and a return on equity of 27.67%. The company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.83 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. equities analysts expect that Deere & Company will post 9.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Friday, June 29th were given a dividend of $0.69 per share. The ex-dividend date was Thursday, June 28th. This represents a $2.76 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Deere & Company’s previous quarterly dividend of $0.60. Deere & Company’s payout ratio is currently 41.32%.
About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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