DJE Kapital AG Boosts Position in Deere & Company $DE

Key Points

• DJE Kapital AG sharply increased its stake in Deere & Company, boosting its position by 4,344.4% in the first quarter to 31,111 shares valued at about $17.35 million.
• Deere recently reported strong quarterly results, with earnings of $6.55 per share and revenue of $13.37 billion, both ahead of analyst expectations.
• Wall Street remains constructive on the stock: analysts have a consensus rating of “Moderate Buy” with an average price target of $642.98, while Deere also announced a quarterly dividend of $1.62 per share.

DJE Kapital AG raised its position in Deere & Company (NYSE:DE - Free Report) by 4,344.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,111 shares of the industrial products company's stock after acquiring an additional 30,411 shares during the quarter. DJE Kapital AG's holdings in Deere & Company were worth $17,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Anchyra Partners LLC increased its position in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. boosted its holdings in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after buying an additional 17 shares during the last quarter. Advisortrust Partners LLC boosted its holdings in shares of Deere & Company by 2.0% in the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company's stock worth $515,000 after buying an additional 18 shares during the last quarter. Cerro Pacific Wealth Advisors LLC grew its position in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after buying an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after buying an additional 19 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on DE shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. DA Davidson reiterated a "buy" rating and set a $685.00 price target on shares of Deere & Company in a research note on Friday. Wolfe Research boosted their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. Bank of America reduced their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. raised their target price on Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and a consensus target price of $642.98.

Deere & Company Price Performance

NYSE DE opened at $586.13 on Tuesday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market cap of $158.22 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.21 and a beta of 0.89. The company's 50 day moving average is $582.50 and its two-hundred day moving average is $572.84. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.64 earnings per share. As a group, research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

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 given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 36.71%.

Deere & Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.