Czech National Bank Purchases 2,843 Shares of Deere & Company $DE

Key Points

• Czech National Bank increased its Deere & Company stake by 4.1% in the second quarter, purchasing 2,843 shares and bringing its holdings to 71,501 shares valued at approximately $45.4 million. Institutional investors collectively own 68.58% of the company.
• Analyst sentiment remains positive, with 14 Buy ratings and nine Holds producing a consensus “Moderate Buy” rating and an average price target of $642.98. Truist raised its target to $812 and maintained a Buy rating.
• Deere reported quarterly revenue of $13.37 billion and EPS of $6.55, exceeding analyst expectations, while revenue grew 5.4% year over year. The company also declared a quarterly dividend of $1.62 per share, equal to a 1.1% annualized yield.

Czech National Bank lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,501 shares of the industrial products company's stock after purchasing an additional 2,843 shares during the period. Czech National Bank's holdings in Deere & Company were worth $45,355,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. grew its position in shares of Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock worth $1,056,000 after buying an additional 150 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $2,153,000. NewEdge Advisors LLC raised its holdings in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock valued at $9,538,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in Deere & Company by 6.7% in the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock valued at $789,000 after acquiring an additional 97 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on DE shares. Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a research report on Sunday, July 5th. 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. JPMorgan Chase & Co. lifted their price target on Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Weiss Ratings raised Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Finally, Truist Financial raised their price objective on Deere & Company from $759.00 to $812.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $642.98.

Deere & Company Trading Up 0.3%

NYSE DE opened at $613.86 on Friday. The stock's fifty day moving average price is $597.99 and its 200-day moving average price is $584.16. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a market cap of $165.70 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.59 and a beta of 0.90. 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 announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter in the previous year, the business posted $6.64 EPS. Deere & Company's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company's payout ratio is presently 36.71%.

Deere & Company 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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