OVERSEA CHINESE BANKING Corp Ltd Sells 5,000 Shares of Deere & Company $DE

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in Deere & Company (NYSE:DE) by 71.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,000 shares of the industrial products company’s stock after selling 5,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Deere & Company were worth $931,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Csenge Advisory Group boosted its holdings in shares of Deere & Company by 84.9% during the 3rd quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock worth $3,402,000 after buying an additional 3,416 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in shares of Deere & Company by 66.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock worth $12,606,000 after buying an additional 10,974 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Deere & Company by 263.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company’s stock worth $7,942,000 after buying an additional 12,551 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Deere & Company by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock worth $9,682,000 after buying an additional 2,702 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Deere & Company by 2.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 110,328 shares of the industrial products company’s stock worth $50,449,000 after buying an additional 2,373 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $580.27 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock’s 50 day moving average is $594.50 and its 200-day moving average is $524.44. The firm has a market capitalization of $156.74 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 2.05 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period in the prior year, the firm earned $3.19 earnings per share. Deere & Company’s revenue for the quarter was up 17.5% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 18 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. 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, March 31st. Deere & Company’s dividend payout ratio is presently 36.53%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Robert W. Baird cut their price target on Deere & Company from $675.00 to $580.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. JPMorgan Chase & Co. increased their price target on Deere & Company from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a report on Wednesday, April 8th. Finally, BMO Capital Markets increased their price target on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $655.45.

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.