DekaBank Deutsche Girozentrale Has $90.74 Million Stock Position in Deere & Company $DE

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in Deere & Company by 2.9% to 175,338 shares, representing a value of $90.74 million as of its latest SEC filing.
• Deere & Company reported earnings of $4.75 per share for the last quarter, exceeding analysts' estimates, but saw a 9.0% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.62, reflecting a 1.4% dividend yield, which will be payable on November 10th.

DekaBank Deutsche Girozentrale cut its holdings in Deere & Company (NYSE:DE - Free Report) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,338 shares of the industrial products company's stock after selling 5,300 shares during the period. DekaBank Deutsche Girozentrale owned 0.06% of Deere & Company worth $90,740,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. OLD National Bancorp IN increased its stake in shares of Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock worth $12,204,000 after purchasing an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after purchasing an additional 798 shares during the period. Providence Capital Advisors LLC increased its stake in shares of Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock worth $6,871,000 after purchasing an additional 303 shares during the period. Bragg Financial Advisors Inc increased its stake in shares of Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock worth $3,386,000 after purchasing an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of Deere & Company in the first quarter worth about $13,588,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several research reports. DA Davidson lowered their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on Deere & Company from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 14th. Daiwa Capital Markets lowered their price target on Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, September 25th. Finally, Truist Financial boosted their price target on Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $517.35.

Deere & Company Stock Up 0.9%

NYSE DE opened at $462.67 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock's 50 day moving average is $472.35 and its two-hundred day moving average is $488.11. The company has a market capitalization of $125.07 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.95 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.29 earnings per share. Equities analysts forecast that Deere & Company will post 19.32 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 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is presently 33.87%.

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.