UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 21,609 Shares of Deere & Company $DE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Deere & Company (NYSE:DE) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,801,164 shares of the industrial products company’s stock after selling 21,609 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Deere & Company were worth $1,142,532,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Deere & Company in the second quarter worth about $27,000. Kilter Group LLC bought a new position in shares of Deere & Company during the 2nd quarter valued at approximately $29,000. Timmons Wealth Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $30,000. Finally, Solstein Capital LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3%

DE opened at $630.66 on Friday. The firm has a 50-day simple moving average of $611.59 and a two-hundred day simple moving average of $593.34. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a market capitalization of $170.24 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.75 earnings per share. Analysts forecast that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s payout ratio is presently 36.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DE. DA Davidson upped their price target on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Raymond James Financial lowered their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Barclays upped their target price on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Oppenheimer raised their price target on Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $653.48.

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.