GAM Holding AG Sells 30 Shares of Deere & Company (NYSE:DE)

GAM Holding AG cut its stake in shares of Deere & Company (NYSE:DE) by 0.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,595 shares of the industrial products company’s stock after selling 30 shares during the quarter. GAM Holding AG’s holdings in Deere & Company were worth $1,500,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC increased its position in Deere & Company by 53.8% in the first quarter. Sound Income Strategies LLC now owns 512 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 179 shares during the period. Chemistry Wealth Management LLC acquired a new position in shares of Deere & Company during the 1st quarter worth about $231,000. Sunbelt Securities Inc. grew its position in shares of Deere & Company by 11.6% during the 1st quarter. Sunbelt Securities Inc. now owns 714 shares of the industrial products company’s stock worth $293,000 after buying an additional 74 shares during the period. Key Client Fiduciary Advisors LLC acquired a new position in shares of Deere & Company during the 1st quarter worth about $241,000. Finally, Aletheian Wealth Advisors LLC grew its position in shares of Deere & Company by 44.3% during the 1st quarter. Aletheian Wealth Advisors LLC now owns 2,349 shares of the industrial products company’s stock worth $965,000 after buying an additional 721 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.1 %

Shares of Deere & Company stock opened at $406.65 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The stock has a market cap of $112.06 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The business’s 50 day moving average is $395.40 and its 200-day moving average is $385.21.

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 return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the business posted $10.20 EPS. The business’s revenue was down 20.3% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DE shares. Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Truist Financial lifted their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $420.69.

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.