Baillie Gifford & Co. Sells 338,562 Shares of Deere & Company (NYSE:DE)

Baillie Gifford & Co. decreased its holdings in Deere & Company (NYSE:DE) by 38.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 542,191 shares of the industrial products company’s stock after selling 338,562 shares during the period. Baillie Gifford & Co.’s holdings in Deere & Company were worth $226,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. 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 worth $356,602,000 after purchasing an additional 852,885 shares during the period. 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 worth $322,218,000 after buying an additional 770,451 shares during the period. Swedbank AB bought a new stake in shares of Deere & Company in the 1st quarter valued at $191,628,000. Mawer Investment Management Ltd. bought a new stake in shares of Deere & Company in the 2nd quarter valued at $166,937,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $402.65 on Tuesday. The business’s fifty day simple moving average is $403.35 and its 200 day simple moving average is $385.61. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The firm has a market capitalization of $110.17 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business posted $10.20 EPS. As a group, analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Oppenheimer lowered their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $420.69.

About Deere & Company

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.