Quintet Private Bank Europe S.A. Sells 50 Shares of Deere & Company $DE

Quintet Private Bank Europe S.A. trimmed its stake in Deere & Company (NYSE:DE) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,897 shares of the industrial products company’s stock after selling 50 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Deere & Company were worth $2,490,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. TL Private Wealth bought a new stake in Deere & Company in the second quarter valued at $233,000. Cultivar Capital Inc. bought a new stake in shares of Deere & Company during the second quarter worth $203,000. Parallel Advisors LLC grew its holdings in shares of Deere & Company by 0.9% during the second quarter. Parallel Advisors LLC now owns 3,298 shares of the industrial products company’s stock worth $1,677,000 after purchasing an additional 28 shares during the last quarter. Value Partners Investments Inc. grew its holdings in shares of Deere & Company by 10.0% during the second quarter. Value Partners Investments Inc. now owns 1,475 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 134 shares during the last quarter. Finally, Capital Asset Advisory Services LLC grew its holdings in shares of Deere & Company by 41.1% during the second quarter. Capital Asset Advisory Services LLC now owns 2,360 shares of the industrial products company’s stock worth $1,200,000 after purchasing an additional 687 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $471.35 on Monday. The business’s 50-day simple moving average is $497.38 and its 200 day simple moving average is $490.39. The stock has a market cap of $127.42 billion, a price-to-earnings ratio of 24.64, a P/E/G ratio of 3.02 and a beta of 1.00. Deere & Company has a 12-month low of $386.42 and a 12-month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the business earned $6.29 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Analysts Set New Price Targets

Several analysts have recently commented on DE shares. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Oppenheimer increased their target price on Deere & Company from $560.00 to $566.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. Finally, DA Davidson decreased their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $520.87.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.