Zions Bancorporation N.A. Sells 30 Shares of Deere & Company (NYSE:DE)

Zions Bancorporation N.A. trimmed its holdings in Deere & Company (NYSE:DE) by 10.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 265 shares of the industrial products company’s stock after selling 30 shares during the period. Zions Bancorporation N.A.’s holdings in Deere & Company were worth $111,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC lifted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the 2nd quarter worth about $37,000. Finally, Centennial Bank AR raised its position in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DE shares. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Evercore ISI increased their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Up 1.1 %

DE opened at $398.95 on Friday. The stock’s 50 day moving average price is $403.69 and its 200 day moving average price is $385.70. The stock 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. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $10.94 billion. During the same quarter in the previous year, the company earned $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

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

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.