ING Groep NV Reduces Holdings in Deere & Company (NYSE:DE)

ING Groep NV lowered its position in Deere & Company (NYSE:DE - Free Report) by 48.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,275 shares of the industrial products company's stock after selling 32,560 shares during the period. ING Groep NV's holdings in Deere & Company were worth $14,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in Deere & Company during the 2nd quarter valued at approximately $26,000. Pineridge Advisors LLC raised its position in shares of Deere & Company by 725.0% in the 1st 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 purchased a new stake in Deere & Company during the 3rd quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company during the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR raised its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock worth $39,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DE. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a report on Thursday, August 8th. Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a report on Friday, August 16th. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Monday, August 26th. Finally, HSBC downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $420.69.

Deere & Company Price Performance

Shares of NYSE DE traded up $4.31 during midday trading on Friday, reaching $398.95. The stock had a trading volume of 1,164,454 shares, compared to its average volume of 1,431,512. The company has a market capitalization of $109.15 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The stock has a 50-day moving average of $403.69 and a 200-day moving average of $385.70. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $10.94 billion. During the same quarter last year, the business posted $10.20 earnings per share. The firm's revenue was down 20.3% on a year-over-year basis. As a group, research analysts anticipate that Deere & Company will post 25 EPS for the current fiscal 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 issued a $1.47 dividend. This represents a $5.88 annualized dividend 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.