Commerzbank Aktiengesellschaft FI Has $2.32 Million Stock Holdings in Deere & Company $DE

Key Points

• Commerzbank Aktiengesellschaft FI sharply cut its Deere stake by 80.8% in the fourth quarter, ending with 4,972 shares valued at about $2.32 million.
• Deere reported stronger-than-expected quarterly results, with EPS of $2.42 and revenue of $9.61 billion, both ahead of analyst forecasts, while revenue rose 17.5% year over year.
• The company recently paid a quarterly dividend of $1.62 per share and has a consensus analyst rating of Moderate Buy with an average price target of $655.45.

Commerzbank Aktiengesellschaft FI trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 80.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,972 shares of the industrial products company's stock after selling 20,878 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Deere & Company were worth $2,315,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock worth $932,870,000 after buying an additional 1,893,972 shares during the last quarter. Phoenix Financial Ltd. lifted its stake in Deere & Company by 30.8% in the 4th quarter. Phoenix Financial Ltd. now owns 1,400 shares of the industrial products company's stock valued at $656,000 after purchasing an additional 330 shares during the last quarter. Wealth Advisors of Iowa LLC grew its holdings in Deere & Company by 41.4% during the fourth quarter. Wealth Advisors of Iowa LLC now owns 2,015 shares of the industrial products company's stock worth $938,000 after purchasing an additional 590 shares during the period. Avantax Planning Partners Inc. grew its holdings in Deere & Company by 0.7% during the fourth quarter. Avantax Planning Partners Inc. now owns 23,922 shares of the industrial products company's stock worth $11,137,000 after purchasing an additional 178 shares during the period. Finally, New York Life Investment Management LLC grew its holdings in Deere & Company by 3.5% during the fourth quarter. New York Life Investment Management LLC now owns 35,662 shares of the industrial products company's stock worth $16,603,000 after purchasing an additional 1,221 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 2.2%

Shares of DE stock opened at $562.12 on Friday. The firm has a 50 day moving average price of $580.96 and a two-hundred day moving average price of $537.02. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $151.83 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. As a group, analysts predict that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.2%. Deere & Company's dividend payout ratio (DPR) is 36.53%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reduced their price target on Deere & Company from $675.00 to $625.00 and set a "neutral" rating for the company in a report on Monday, March 9th. Oppenheimer reiterated an "outperform" rating and set a $715.00 price target on shares of Deere & Company in a report on Friday, February 20th. Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. Raymond James Financial reiterated an "outperform" rating and set a $765.00 price target on shares of Deere & Company in a report on Monday, February 23rd. Finally, Barclays lifted their price target on Deere & Company from $530.00 to $640.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $655.45.

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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