Commerzbank Aktiengesellschaft FI Reduces Position in Deere & Company $DE

Key Points

• Commerzbank Aktiengesellschaft FI reduced its stake in Deere & Company by 4.8% during the second quarter, holding 23,746 shares worth approximately $12.08 million.
• Analysts have recently adjusted their price targets for Deere & Company, with Wolfe Research reducing its target from $550.00 to $520.00 while maintaining an "outperform" rating.
• Deere & Company declared a quarterly dividend of $1.62 per share, set to be paid on November 10th, reflecting an annualized yield of 1.4%.

Commerzbank Aktiengesellschaft FI cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,746 shares of the industrial products company's stock after selling 1,189 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Deere & Company were worth $12,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DE. Southland Equity Partners LLC lifted its position in Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company's stock valued at $271,000 after buying an additional 20 shares during the period. Chicago Partners Investment Group LLC lifted its position in Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after buying an additional 21 shares during the period. Tyler Stone Wealth Management lifted its position in Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after buying an additional 21 shares during the period. McLean Asset Management Corp lifted its position in Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock valued at $283,000 after buying an additional 21 shares during the period. Finally, Trilogy Capital Inc. lifted its position in Deere & Company by 1.3% during the second quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company's stock valued at $860,000 after buying an additional 21 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on DE. Wolfe Research lowered their price target on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Daiwa Capital Markets lowered their price target on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research report on Thursday, September 25th. Truist Financial lifted their price target on Deere & Company from $602.00 to $609.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group lowered their price target on Deere & Company from $510.00 to $440.00 and set a "hold" rating for the company in a research report on Wednesday. Finally, Robert W. Baird lowered their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $513.88.

Deere & Company Price Performance

Shares of NYSE:DE opened at $455.73 on Friday. The business has a 50-day simple moving average of $480.23 and a two-hundred day simple moving average of $488.58. The firm has a market cap of $123.20 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly 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. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.29 EPS. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's payout ratio is currently 33.87%.

About Deere & Company

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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