Amundi Has $529.34 Million Holdings in Deere & Company $DE

Key Points

• Amundi reduced its Deere & Company position by 14% in the second quarter, selling 136,203 shares and retaining 834,490 shares worth approximately $529.3 million. Institutional investors and hedge funds collectively own 68.58% of the stock.
• Analyst sentiment remains positive, with Deere carrying a “Moderate Buy” consensus rating and an average price target of $680.73; recent targets ranged from $650 to $760.
• Deere exceeded quarterly expectations, reporting $5.10 EPS and $12.61 billion in revenue, while revenue rose 6.2% year over year. The company also declared a quarterly dividend of $1.62 per share, equivalent to a 0.9% yield.

Amundi trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 834,490 shares of the industrial products company's stock after selling 136,203 shares during the quarter. Amundi owned approximately 0.31% of Deere & Company worth $529,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in DE. California State Teachers Retirement System increased its stake in shares of Deere & Company by 60,460.4% during the 2nd quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company's stock worth $148,804,949,000 after purchasing an additional 234,198,659 shares during the last quarter. BlackRock Inc. bought a new stake in Deere & Company during the second quarter worth approximately $11,763,504,000. State Street Corp lifted its stake in shares of Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after buying an additional 97,049 shares during the last quarter. Capital World Investors raised its holdings in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after acquiring an additional 158,584 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. Oppenheimer increased their target price on Deere & Company from $680.00 to $685.00 and gave the company an "outperform" rating in a research note on Thursday, August 20th. Nomura raised Deere & Company to a "buy" rating in a research report on Monday, August 31st. Citigroup upped their price target on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Weiss Ratings cut Deere & Company from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, September 2nd. Finally, DA Davidson raised their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. Sixteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $680.73.

Deere & Company Price Performance

Shares of DE stock opened at $692.68 on Tuesday. The stock has a 50 day moving average of $620.43 and a two-hundred day moving average of $596.90. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 12 month low of $433.00 and a 12 month high of $705.88. The company has a market capitalization of $186.76 billion, a P/E ratio of 38.48, a P/E/G ratio of 2.86 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analysts' expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.75 earnings per share. As a group, equities analysts expect that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company's payout ratio is 36.00%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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