Swiss National Bank Decreases Stock Holdings in Deere & Company $DE

Swiss National Bank reduced its position in shares of Deere & Company (NYSE:DE) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 703,760 shares of the industrial products company’s stock after selling 37,940 shares during the period. Swiss National Bank’s holdings in Deere & Company were worth $327,650,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Strategic Advocates LLC purchased a new stake in shares of Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the 4th quarter worth $27,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $30,000. Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the 3rd quarter worth $32,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $34,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.6%

Shares of NYSE:DE opened at $569.09 on Friday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market cap of $153.62 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.07 and a beta of 0.92. The firm has a fifty day moving average price of $573.17 and a 200 day moving average price of $548.69.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the firm posted $6.64 EPS. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DE shares. DA Davidson decreased their price objective on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Bank of America reduced their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a research report on Wednesday, April 8th. Finally, Barclays boosted their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Company Profile

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.