Deere & Company $DE Shares Sold by Oddo BHF Asset Management Sas

Key Points

• Oddo BHF Asset Management cut its Deere stake by 72.4% in the first quarter, selling 2,934 shares and retaining 1,120 shares valued at approximately $631,000. Institutional investors collectively own 68.58% of Deere.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $642.98, although several firms recently lowered or raised targets while keeping mostly neutral-to-positive ratings.
• Deere reported quarterly EPS of $6.55, exceeding estimates of $5.70, while revenue rose 5.4% year over year to $13.37 billion. The company also declared a quarterly dividend of $1.62 per share, representing a 1.1% yield.

Oddo BHF Asset Management Sas lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 72.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,120 shares of the industrial products company's stock after selling 2,934 shares during the quarter. Oddo BHF Asset Management Sas' holdings in Deere & Company were worth $631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Financial LLC increased its position in shares of Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company's stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its position in Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company's stock worth $39,737,000 after purchasing an additional 30,553 shares during the period. Westpac Banking Corp boosted its stake in Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company's stock worth $3,224,000 after buying an additional 3,047 shares in the last quarter. Eldred Rock Partners LLC acquired a new stake in Deere & Company during the fourth quarter worth $13,166,000. Finally, Natixis Advisors LLC increased its holdings in Deere & Company by 13.4% in the 4th quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company's stock valued at $180,919,000 after buying an additional 45,782 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DE shares. Raymond James Financial dropped their price objective on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Citigroup increased their price target on shares of Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Finally, Robert W. Baird decreased their price objective on Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $642.98.

Deere & Company Stock Down 1.8%

Shares of NYSE:DE opened at $599.98 on Friday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company's fifty day moving average is $590.30 and its 200-day moving average is $580.57. The company has a market capitalization of $161.96 billion, a PE ratio of 33.99, a P/E/G ratio of 2.58 and a beta of 0.89.

Deere & Company (NYSE:DE - Get Free Report) last announced its 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 business had revenue of $13.37 billion during the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter last year, the company posted $6.64 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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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