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

Baillie Gifford & Co. cut its holdings in Deere & Company (NYSE:DE - Free Report) by 38.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 542,191 shares of the industrial products company's stock after selling 338,562 shares during the quarter. Baillie Gifford & Co. owned about 0.20% of Deere & Company worth $226,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company's stock valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Janus Henderson Group PLC grew its stake in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company's stock valued at $1,585,028,000 after acquiring an additional 19,200 shares in the last quarter. Legal & General Group Plc grew its stake in Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company's stock valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company's stock valued at $603,854,000 after acquiring an additional 114,116 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock traded down $6.92 during trading hours on Tuesday, reaching $395.73. 396,739 shares of the company's stock were exchanged, compared to its average volume of 1,429,902. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The stock has a market capitalization of $108.27 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93. The business has a fifty day moving average price of $403.35 and a 200-day moving average price of $385.61. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly 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. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the company earned $10.20 earnings per share. The company's quarterly revenue was down 20.3% compared to the same quarter last year. Analysts predict that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company's payout ratio is 20.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They issued a "market perform" rating and a $400.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a research note on Thursday, August 8th. Finally, Evercore ISI boosted their price target 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. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Deere & Company has a consensus rating of "Hold" and an average 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.