UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Deere & Company $DE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,657,406 shares of the industrial products company’s stock after selling 14,138 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Deere & Company were worth $771,639,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Strategic Advocates LLC purchased a new stake in shares of Deere & Company during the third quarter worth approximately $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the third quarter worth approximately $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $577.05 on Friday. The stock has a fifty day simple moving average of $573.27 and a 200-day simple moving average of $548.89. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a market cap of $155.77 billion, a PE ratio of 32.69, a P/E/G ratio of 2.10 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period last year, the business posted $6.64 EPS. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 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 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. UBS Group boosted their price target on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Sanford C. Bernstein upped their target price on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Wells Fargo & Company upped their target price on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. BMO Capital Markets upped their target price on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Finally, Wolfe Research upped their target price on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.