OVERSEA CHINESE BANKING Corp Ltd Has $24.43 Million Stake in Deere & Company (NYSE:DE)

OVERSEA CHINESE BANKING Corp Ltd decreased its stake in Deere & Company (NYSE:DE) by 21.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 58,527 shares of the industrial products company’s stock after selling 16,248 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Deere & Company were worth $24,425,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Deere & Company during the 1st quarter valued at about $138,000. Sheets Smith Wealth Management acquired a new position in shares of Deere & Company during the first quarter worth about $257,000. Entropy Technologies LP acquired a new position in shares of Deere & Company during the first quarter worth about $1,637,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Deere & Company by 1.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 128,196 shares of the industrial products company’s stock worth $52,655,000 after buying an additional 1,232 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in shares of Deere & Company by 1.8% during the first quarter. Koshinski Asset Management Inc. now owns 24,773 shares of the industrial products company’s stock worth $10,175,000 after buying an additional 427 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Citigroup increased their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered their target price 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. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 2.2 %

Shares of NYSE:DE opened at $402.65 on Tuesday. The firm has a market cap of $110.17 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The business has a fifty day simple moving average of $403.35 and a 200 day simple moving average of $385.61.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 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.