Deutsche Bank AG trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 25.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 733,793 shares of the industrial products company's stock after selling 249,942 shares during the quarter. Deutsche Bank AG owned about 0.27% of Deere & Company worth $344,406,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Hughes Financial Services LLC acquired a new stake in Deere & Company in the first quarter worth about $29,000. Cornerstone Planning Group LLC increased its position in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC acquired a new stake in Deere & Company in the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company in the fourth quarter worth about $39,000. Finally, Dogwood Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter worth about $42,000. 68.58% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on the company. Bank of America lifted their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays lifted their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upped their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, DA Davidson reiterated a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $523.93.
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Deere & Company Stock Performance
Shares of DE stock traded up $0.28 during trading on Tuesday, reaching $507.26. 542,751 shares of the company's stock were exchanged, compared to its average volume of 1,325,741. The firm's fifty day moving average price is $512.46 and its 200-day moving average price is $489.58. Deere & Company has a twelve month low of $346.00 and a twelve month high of $533.78. The stock has a market capitalization of $137.38 billion, a PE ratio of 24.56, a PEG ratio of 3.24 and a beta of 1.06. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company's revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.53 earnings per share. As a group, sell-side 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 was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's dividend payout ratio is presently 31.35%.
About Deere & Company
(
Free Report)
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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