Erste Asset Management GmbH Has $11.81 Million Holdings in Deere & Company $DE

Key Points

• Erste Asset Management GmbH increased its stake in Deere & Company by 50.2%, holding 25,386 shares worth approximately $11.81 million as of its latest filing.
• Deere & Company reported quarterly earnings of $4.75 per share, exceeding analysts' estimates of $4.62, despite a 9.0% decline in revenue year-over-year.
• The company's recent quarterly dividend of $1.62 per share translates to an annual yield of 1.3%, with a current payout ratio of 33.87%.

Erste Asset Management GmbH increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 50.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,386 shares of the industrial products company's stock after buying an additional 8,490 shares during the period. Erste Asset Management GmbH's holdings in Deere & Company were worth $11,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Deere & Company by 10.7% during 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 boosted its position in Deere & Company by 2.1% during 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. ASR Vermogensbeheer N.V. bought a new position in Deere & Company during the first quarter worth $13,588,000. Finally, Stratos Investment Management LLC bought a new position in Deere & Company during the first quarter worth $271,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.6%

Shares of Deere & Company stock opened at $492.4310 on Thursday. The firm has a 50-day moving average of $509.47 and a 200-day moving average of $490.15. The stock has a market cap of $133.37 billion, a PE ratio of 25.74, a PEG ratio of 3.13 and a beta of 1.06. Deere & Company has a 52-week low of $372.12 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the prior year, the business posted $6.29 earnings per share. Deere & Company's revenue was down 9.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's payout ratio is presently 33.87%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial reduced their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Barclays lifted their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $523.87.

About Deere & Company

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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