APG Asset Management N.V. Sells 9,068 Shares of Deere & Company $DE

Key Points

• APG Asset Management N.V. has reduced its holdings in Deere & Company by 5.1%, selling 9,068 shares and now owning approximately 0.06% of the company worth $73.6 million.
• Deere reported better-than-expected earnings of $4.75 per share for the last quarter, exceeding analyst estimates, despite experiencing a 9% decline in revenue compared to the previous year.
• The firm has declared a quarterly dividend of $1.62 per share, translating to an annualized dividend of $6.48, which results in a dividend yield of 1.3%.

APG Asset Management N.V. decreased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 169,432 shares of the industrial products company's stock after selling 9,068 shares during the period. APG Asset Management N.V. owned approximately 0.06% of Deere & Company worth $73,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC bought a new stake in shares of Deere & Company during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the 4th quarter valued at $39,000. Finally, Citizens National Bank Trust Department bought a new stake in shares of Deere & Company in the 1st quarter valued at $45,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $495.0920 on Friday. The firm has a market cap of $134.09 billion, a PE ratio of 25.88, a PEG ratio of 3.11 and a beta of 1.06. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1-year low of $374.46 and a 1-year high of $533.78. The company has a fifty day moving average price of $508.58 and a 200 day moving average price of $490.43.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's dividend payout ratio is currently 33.87%.

Analyst Ratings Changes

DE has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Oppenheimer upped their price objective on shares of Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Robert W. Baird lowered their price objective on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Finally, Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $523.87.

Deere & Company Profile

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.

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