Bank Julius Baer & Co. Ltd Zurich Boosts Stock Position in Deere & Company (NYSE:DE)

Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Deere & Company (NYSE:DE) by 55.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,098 shares of the industrial products company’s stock after purchasing an additional 10,029 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Deere & Company were worth $11,236,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Briaud Financial Planning Inc purchased a new stake in Deere & Company in the third quarter worth about $25,000. Rakuten Securities Inc. purchased a new stake in Deere & Company in the fourth quarter worth about $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Bfsg LLC bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Finally, ZRC Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $28,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $0.72 during trading hours on Friday, reaching $393.34. The company’s stock had a trading volume of 998,333 shares, compared to its average volume of 1,472,866. The firm has a 50 day moving average price of $387.20 and a 200-day moving average price of $383.54. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The stock has a market cap of $109.49 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.55 EPS. On average, analysts predict that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s payout ratio is 17.12%.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Melius Research reissued a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Evercore ISI raised their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $433.28.

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.