Commerzbank Aktiengesellschaft FI purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,256 shares of the industrial products company's stock, valued at approximately $9,677,000.
A number of other institutional investors have also modified their holdings of DE. Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the first quarter worth approximately $32,000. Timmons Wealth Management LLC acquired a new position in Deere & Company in the 4th quarter valued at $29,000. McIlrath & Eck LLC acquired a new position in Deere & Company in the 4th quarter valued at $30,000. Wealth Watch Advisors INC purchased a new position in shares of Deere & Company during the 3rd quarter worth $32,000. Finally, Evolution Wealth Management Inc. lifted its stake in shares of Deere & Company by 6,900.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 70 shares of the industrial products company's stock worth $39,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.
Wall Street Analysts Forecast Growth
DE has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price objective on Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price target on Deere & Company from $590.00 to $570.00 and set a "neutral" rating for the company in a report on Friday. Citigroup upped their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday, July 5th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $641.98.
Check Out Our Latest Analysis on DE
Deere & Company Stock Performance
Deere & Company stock opened at $600.08 on Tuesday. The stock's 50-day moving average is $603.76 and its 200-day moving average is $588.84. The company has a market cap of $161.99 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. 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 released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the company posted $6.64 EPS. The company's revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 18.26 earnings per share for the current year.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company's payout ratio is 36.71%.
Deere & Company Company Profile
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Free Report)
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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