Deere & Company (NYSE:DE) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Deere & Company by 25.4% during the first quarter, selling 249,942 shares and holding a total of 733,793 shares valued at $344.4 million.
• Analysts have varying ratings for Deere & Company, with the stock having an average target price of $515.50 and a consensus rating of "Hold".
• Deere & Company's recent earnings report showed $6.64 EPS, surpassing expectations by $0.92, despite a 17.9% decline in revenue compared to the prior year.

Deutsche Bank AG cut its position in Deere & Company (NYSE:DE - Free Report) by 25.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 733,793 shares of the industrial products company's stock after selling 249,942 shares during the quarter. Deutsche Bank AG owned 0.27% of Deere & Company worth $344,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after buying an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after acquiring an additional 798 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company in the 1st quarter valued at approximately $13,588,000. Stenger Family Office LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $3,144,000. Finally, Stratos Investment Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at approximately $271,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DE. Truist Financial lifted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $515.50.

Deere & Company Price Performance

Shares of DE opened at $506.90 on Friday. Deere & Company has a one year low of $343.38 and a one year high of $533.78. The stock's fifty day moving average is $512.37 and its 200-day moving average is $488.75. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The firm has a market capitalization of $137.28 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the firm posted $8.53 EPS. Deere & Company's revenue was down 17.9% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's payout ratio is presently 31.35%.

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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