Commerzbank Aktiengesellschaft FI trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,935 shares of the industrial products company's stock after selling 2,490 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Deere & Company were worth $11,703,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after purchasing an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after purchasing an additional 798 shares during the period. Stenger Family Office LLC acquired a new position in Deere & Company during the fourth quarter valued at approximately $3,144,000. Stratos Investment Management LLC acquired a new position in Deere & Company during the first quarter valued at approximately $271,000. Finally, Telos Capital Management Inc. grew its holdings in Deere & Company by 28.2% during the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock valued at $1,592,000 after purchasing an additional 746 shares during the period. 68.58% of the stock is owned by institutional investors.
Deere & Company Stock Down 1.5%
DE traded down $7.75 during trading hours on Thursday, hitting $499.98. 1,778,523 shares of the company's stock were exchanged, compared to its average volume of 1,345,300. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The stock's 50-day moving average is $512.51 and its two-hundred day moving average is $479.60. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The stock has a market cap of $135.41 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 3.22 and a beta of 1.08.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the firm posted $8.53 earnings per share. The company's quarterly revenue was down 17.9% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.
Analyst Ratings Changes
A number of research analysts recently issued reports on DE shares. Evercore ISI boosted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Citigroup reduced their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $515.50.
Get Our Latest Analysis on Deere & Company
About Deere & Company
(
Free Report)
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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