Generali Investments Towarzystwo Funduszy Inwestycyjnych Lowers Position in Deere & Company (NYSE:DE)

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych has reduced its stake in Deere & Company by 32.7%, now holding 2,750 shares worth approximately $1.29 million.
• Deere & Company reported a quarterly EPS of $6.64, exceeding analysts' expectations of $5.72, despite a 17.9% decline in revenue year-over-year.
• The company announced a $1.62 per share quarterly dividend, with a payout ratio of 31.35%, to be distributed to stockholders on August 8th.

Generali Investments Towarzystwo Funduszy Inwestycyjnych decreased its stake in Deere & Company (NYSE:DE - Free Report) by 32.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,750 shares of the industrial products company's stock after selling 1,338 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Deere & Company were worth $1,291,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Capital World Investors raised its position in shares of Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC lifted its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Northern Trust Corp boosted its position in shares of Deere & Company by 12.8% during the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock valued at $1,235,394,000 after purchasing an additional 330,915 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Deere & Company by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company's stock worth $1,096,179,000 after purchasing an additional 184,203 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock traded down $3.31 during trading on Tuesday, hitting $507.25. The company's stock had a trading volume of 338,055 shares, compared to its average volume of 1,335,844. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company has a market cap of $137.38 billion, a PE ratio of 24.57, a P/E/G ratio of 3.18 and a beta of 1.06. The business has a fifty day moving average of $512.28 and a 200-day moving average of $488.12. Deere & Company has a 52 week low of $342.70 and a 52 week high of $533.78.

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

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. 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 dividend payout ratio (DPR) is 31.35%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Barclays raised their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Evercore ISI increased their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Finally, UBS Group decreased their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $515.50.

Deere & 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.