Baillie Gifford & Co. Has $226.27 Million Stock Holdings in Deere & Company (NYSE:DE)

Baillie Gifford & Co. lowered its stake in Deere & Company (NYSE:DE) by 38.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 542,191 shares of the industrial products company’s stock after selling 338,562 shares during the quarter. Baillie Gifford & Co. owned approximately 0.20% of Deere & Company worth $226,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its position in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares during the last quarter. Balentine LLC bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $710,000. Royal Fund Management LLC increased its holdings in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after acquiring an additional 3,223 shares during the last quarter. New Century Financial Group LLC bought a new stake in Deere & Company in the 3rd quarter valued at $1,052,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Deere & Company during the 2nd quarter valued at $24,984,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on DE. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI raised their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Citigroup lifted their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial upped their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

NYSE DE opened at $402.65 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The firm has a market capitalization of $110.17 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93. 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’s 50 day simple moving average is $403.35 and its 200 day simple moving average is $385.61.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company posted $10.20 EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, research analysts expect that Deere & Company will post 25 earnings per share 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is currently 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.