Deere & Company $DE Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Deere & Company stake by 58.2% in the third quarter, bringing its holdings to 12,743 shares valued at approximately $8.56 million. Institutional investors collectively own 68.58% of the stock.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating from 25 analysts and an average price target of $688.10, despite one recent downgrade to “Sell.”
• Deere reported quarterly earnings of $5.10 per share, exceeding estimates, while revenue rose 6.2% year over year to $12.61 billion. The company also declared a quarterly dividend of $1.62 per share, representing a 1.0% yield.

Assenagon Asset Management S.A. grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 58.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,743 shares of the industrial products company's stock after buying an additional 4,686 shares during the period. Assenagon Asset Management S.A.'s holdings in Deere & Company were worth $8,558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Deere & Company during the second quarter valued at approximately $27,000. Kilter Group LLC bought a new position in Deere & Company in the 2nd quarter valued at approximately $29,000. Solstein Capital LLC bought a new position in Deere & Company in the 2nd quarter valued at approximately $30,000. Orion Capital Management LLC bought a new position in Deere & Company in the 2nd quarter valued at approximately $32,000. Finally, Downshift Financial LLC boosted its stake in Deere & Company by 218.8% during the 3rd quarter. Downshift Financial LLC now owns 51 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 35 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of several recent analyst reports. UBS Group decreased their price target on Deere & Company from $732.00 to $728.00 and set a "buy" rating for the company in a research note on Friday, August 21st. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Robert W. Baird raised Deere & Company from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Nomura raised Deere & Company to a "buy" rating in a research report on Monday, August 31st. Finally, Evercore upgraded Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective for the company in a report on Wednesday, September 2nd. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $688.10.

Deere & Company Trading Down 2.3%

Shares of Deere & Company stock opened at $627.23 on Tuesday. Deere & Company has a fifty-two week low of $454.50 and a fifty-two week high of $721.22. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The company has a market capitalization of $169.11 billion, a P/E ratio of 35.66, a P/E/G ratio of 2.35 and a beta of 0.86. The company has a fifty day moving average of $658.42 and a 200 day moving average of $612.68.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion for the quarter, compared to analysts' expectations of $10.81 billion. During the same period last year, the firm earned $4.75 earnings per share. The business's quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is currently 36.00%.

Deere & Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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