Deere & Company $DE Shares Sold by Amundi

Key Points

• Amundi has reduced its holdings in Deere & Company by 3.9%, selling 45,688 shares, and currently owns roughly 1.12 million shares valued at approximately $501.9 million.
• The stock has seen recent price target adjustments from various analysts, with Oppenheimer raising its target to $566 and Raymond James increasing theirs to $560, reflecting an overall positive outlook.
• Deere & Company reported $4.75 EPS for the last quarter, surpassing analysts' expectations, although revenue fell by 9% compared to the previous year.

Amundi reduced its position in Deere & Company (NYSE:DE - Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,120,096 shares of the industrial products company's stock after selling 45,688 shares during the period. Amundi owned about 0.41% of Deere & Company worth $501,906,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management increased its position in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC increased its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new position in Deere & Company during the fourth quarter worth $34,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 1.7%

Shares of NYSE DE traded up $7.85 during midday trading on Monday, reaching $481.11. 1,265,706 shares of the company's stock were exchanged, compared to its average volume of 1,359,743. Deere & Company has a 52-week low of $378.66 and a 52-week high of $533.78. The stock has a market capitalization of $130.06 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 3.04 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The business's fifty day moving average price is $501.32 and its two-hundred day moving average price is $490.71.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.29 earnings per share. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's payout ratio is currently 33.87%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday. Raymond James Financial raised their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Barclays raised their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $520.87.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.