GAM Holding AG Has $1.93 Million Stock Holdings in Deere & Company $DE

GAM Holding AG grew its position in Deere & Company (NYSE:DE) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,803 shares of the industrial products company’s stock after purchasing an additional 25 shares during the period. GAM Holding AG’s holdings in Deere & Company were worth $1,934,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DE. Nuveen LLC acquired a new stake in Deere & Company during the 1st quarter worth $571,073,000. TD Asset Management Inc raised its stake in Deere & Company by 132.0% during the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after buying an additional 410,636 shares during the period. Voya Investment Management LLC raised its position in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the period. Finally, Invesco Ltd. raised its position in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Truist Financial raised their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. DA Davidson dropped their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Evercore ISI set a $491.00 price target on Deere & Company in a research note on Tuesday, August 19th. Finally, Oppenheimer dropped their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Price Performance

NYSE:DE opened at $461.41 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock’s 50-day simple moving average is $467.74 and its 200 day simple moving average is $489.49. The company has a market cap of $124.73 billion, a P/E ratio of 24.12, a P/E/G ratio of 3.05 and a beta of 1.02. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

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

Deere & Company Dividend Announcement

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

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.