Czech National Bank Grows Stock Position in Deere & Company $DE

Key Points

• The Czech National Bank increased its stake in Deere & Company by 6.1% in Q2, now owning 61,699 shares worth approximately $31.37 million.
• Deere recently reported $4.75 earnings per share (EPS) for the quarter, surpassing expectations of $4.62, although revenue declined by 9% year-over-year.
• The company declared a quarterly dividend of $1.62 to be paid on November 10th, with a current dividend yield of 1.4%.

Czech National Bank boosted its stake in Deere & Company (NYSE:DE - Free Report) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,699 shares of the industrial products company's stock after acquiring an additional 3,523 shares during the quarter. Czech National Bank's holdings in Deere & Company were worth $31,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Activest Wealth Management boosted its holdings in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in Deere & Company during the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Deere & Company during the 4th quarter valued at approximately $34,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Deere & Company during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DE. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Oppenheimer raised their price objective on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Citigroup reduced their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $520.87.

Deere & Company Trading Down 0.2%

NYSE:DE opened at $469.38 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business's 50 day moving average is $496.57 and its two-hundred day moving average is $490.32. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a market cap of $126.89 billion, a PE ratio of 24.54, a P/E/G ratio of 3.02 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for 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 revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the business posted $6.29 EPS. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is 33.87%.

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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