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

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Deere & Company (NYSE:DE) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,527 shares of the industrial products company’s stock after selling 16,248 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Deere & Company were worth $24,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in DE. Fairscale Capital LLC acquired a new stake in Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC lifted its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the 3rd quarter worth approximately $32,000. Olistico Wealth LLC acquired a new position in shares of Deere & Company during the second quarter worth approximately $37,000. Finally, Centennial Bank AR lifted its holdings in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 2.2 %

Shares of DE opened at $402.65 on Tuesday. 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 firm has a market capitalization of $110.17 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The stock’s fifty day simple moving average is $403.35 and its 200-day simple moving average is $385.61.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Analyst Ratings Changes

A number of brokerages have recently commented on DE. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial upped their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup boosted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley lowered their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $420.69.

About Deere & Company

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.