2,900 Deere & Company $DE Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. lowered its holdings in Deere & Company (NYSE:DE) by 60.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,928 shares of the industrial products company’s stock after selling 2,900 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Deere & Company were worth $1,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Canandaigua National Trust Co of Florida purchased a new position in shares of Deere & Company during the third quarter worth approximately $333,000. Greenfield Savings Bank bought a new stake in Deere & Company in the third quarter worth $203,000. Congress Asset Management Co. grew its stake in shares of Deere & Company by 291.8% during the third quarter. Congress Asset Management Co. now owns 2,574 shares of the industrial products company’s stock valued at $1,728,000 after buying an additional 1,917 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Deere & Company by 19.0% during the third quarter. Central Pacific Bank Trust Division now owns 7,024 shares of the industrial products company’s stock valued at $4,717,000 after buying an additional 1,122 shares during the last quarter. Finally, Horizons Wealth Management purchased a new position in shares of Deere & Company in the third quarter worth about $71,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Evercore ISI upgraded Deere to Outperform and set an $813 price target, signaling improved confidence in the company’s outlook and offering potential upside from current levels. Evercore ISI upgrades Deere & Company to Outperform
• Positive Sentiment: Deere and Yamaha Motor announced a collaboration on future side-by-side vehicles. Yamaha will contribute powertrain and vehicle expertise, while Deere will provide vehicle-development capabilities and U.S. manufacturing. The partnership could expand Deere’s recreational vehicle offering and leverage both companies’ strengths. Yamaha Motor and John Deere announce collaboration
• Neutral Sentiment: Deere continues to be highlighted as an agriculture-technology investment, with exposure to precision farming and other “smart agriculture” trends. However, the report provided no new company-specific financial guidance. AgTech and food innovation stocks
• Negative Sentiment: The Federal Trade Commission and Department of Agriculture opened an inquiry into farm-equipment market practices. Regulators are seeking information about possible barriers to purchasing, servicing and repairing agricultural equipment. The investigation raises risks of greater competition, pricing restrictions or changes to Deere’s dealer and service model. Caterpillar and Deere stock fall as regulatory pressure continues
• Negative Sentiment: Surging Treasury yields pressured industrial stocks. Higher financing costs can make large equipment purchases less affordable for farmers and contractors, potentially weighing on demand and future orders. The broader industrial-sector selloff added to the pressure on Deere. Industrials sell off as Treasury yields rise

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. Citigroup increased their price target on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Nomura raised shares of Deere & Company to a “buy” rating in a research note on Monday, August 31st. CICC Research initiated coverage on Deere & Company in a research note on Sunday, September 13th. They issued an “outperform” rating on the stock. Finally, UBS Group dropped their price objective on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a report on Friday, August 21st. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $686.10.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $8.14 during midday trading on Thursday, reaching $648.73. 601,773 shares of the company’s stock traded hands, compared to its average volume of 1,360,998. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a one year low of $433.00 and a one year high of $721.22. The company has a market cap of $174.91 billion, a price-to-earnings ratio of 36.03, a P/E/G ratio of 2.50 and a beta of 0.86. The stock has a 50 day moving average of $653.35 and a 200 day moving average of $608.66.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.75 EPS. As a group, equities research analysts anticipate that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, 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 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio is currently 36.00%.

Deere & Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.