Zions Bancorporation N.A. Reduces Stock Position in Deere & Company (NYSE:DE)

Zions Bancorporation N.A. trimmed its stake in shares of Deere & Company (NYSE:DE) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 265 shares of the industrial products company’s stock after selling 30 shares during the quarter. Zions Bancorporation N.A.’s holdings in Deere & Company were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew its stake in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Swedbank AB purchased a new position in shares of Deere & Company during the 1st quarter valued at $191,628,000. Mawer Investment Management Ltd. bought a new position in shares of Deere & Company in the second quarter worth $166,937,000. Finally, Dimensional Fund Advisors LP boosted its stake in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $398.95 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $109.15 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm has a 50-day moving average of $403.69 and a 200-day moving average of $385.70.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the company earned $10.20 EPS. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Analyst Ratings Changes

DE has been the topic of a number of research analyst reports. Citigroup upped their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Morgan Stanley cut their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Profile

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.