iA Global Asset Management Inc. Reduces Stake in Deere & Company $DE

iA Global Asset Management Inc. reduced its position in Deere & Company (NYSE:DE) by 2.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,320 shares of the industrial products company’s stock after selling 520 shares during the period. iA Global Asset Management Inc.’s holdings in Deere & Company were worth $10,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. OLD National Bancorp IN increased its stake in shares of Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after acquiring an additional 798 shares during the period. Providence Capital Advisors LLC raised its holdings in Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after acquiring an additional 303 shares during the period. Bragg Financial Advisors Inc raised its holdings in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after acquiring an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new stake in Deere & Company during the first quarter valued at about $13,588,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DE shares. Wolfe Research decreased their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. Royal Bank Of Canada started coverage on Deere & Company in a report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price target on the stock. UBS Group reissued a “buy” rating on shares of Deere & Company in a report on Tuesday. Finally, Daiwa Capital Markets decreased their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Trading Down 0.9%

Shares of DE stock opened at $461.41 on Friday. The stock has a market capitalization of $124.73 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock’s 50-day moving average price is $467.74 and its 200-day moving average price is $489.69.

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

Deere & Company Announces Dividend

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