B. Metzler seel. Sohn & Co. AG Sells 304,850 Shares of Deere & Company $DE

Key Points

• B. Metzler seel. Sohn & Co. AG has significantly reduced its stake in Deere & Company, selling 304,850 shares, which equates to a 93.6% reduction, leaving it with 20,911 shares valued at approximately $9.8 million.
• Despite the sell-off, several institutional investors, including GAMMA Investing LLC and Castlekeep Investment Advisors LLC, have increased their positions in DE, indicating continued interest in the stock.
• Analyst ratings are generally positive, with a consensus rating of Moderate Buy and a target price averaging around $523.87, despite a 9% year-over-year decline in quarterly revenue.

B. Metzler seel. Sohn & Co. AG reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 93.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,911 shares of the industrial products company's stock after selling 304,850 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Deere & Company were worth $9,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. GAMMA Investing LLC boosted its stake in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $541,437,000. Nuveen LLC bought a new position in Deere & Company in the first quarter valued at approximately $571,073,000. Leigh Baldwin & CO. LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $255,686,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Deere & Company in the fourth quarter valued at approximately $149,057,000. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on DE. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. Barclays increased their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $523.87.

Deere & Company Trading Up 0.1%

Shares of NYSE:DE opened at $488.59 on Wednesday. The firm has a market cap of $132.32 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.13 and a beta of 1.06. Deere & Company has a 12 month low of $374.46 and a 12 month high of $533.78. The company's fifty day simple moving average is $507.17 and its 200 day simple moving average is $490.91. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company 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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