Munich Reinsurance Co Stock Corp in Munich Sells 4,912 Shares of Deere & Company $DE

Key Points

• Munich Reinsurance Co. sharply reduced its Deere stake by selling 4,912 shares, leaving it with 274 shares valued at approximately $174,000. Institutional investors overall own 68.58% of Deere’s stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $680.73; recent targets range from $570 to $813.
• Deere exceeded quarterly expectations with $5.10 in EPS and $12.61 billion in revenue, while announcing a quarterly dividend of $1.62 per share, equivalent to a 0.9% annualized yield.

Munich Reinsurance Co Stock Corp in Munich lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 94.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 274 shares of the industrial products company's stock after selling 4,912 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Deere & Company were worth $174,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DE. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Deere & Company in the 2nd quarter valued at about $27,000. Kilter Group LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $29,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Solstein Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth approximately $30,000. Finally, Portus Wealth Advisors LLC bought a new position in shares of Deere & Company in the 1st quarter worth $32,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DE. Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Evercore upgraded shares of Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective for the company in a report on Wednesday. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research report on Friday, August 14th. UBS Group lowered their target price on shares of Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a report on Friday, August 21st. Finally, Raymond James Financial raised their price target on shares of Deere & Company from $700.00 to $730.00 and gave the company an "outperform" rating in a research report on Monday, August 31st. Sixteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $680.73.

Deere & Company Stock Down 0.2%

DE opened at $692.68 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $705.88. The firm has a market capitalization of $186.76 billion, a P/E ratio of 38.48, a PEG ratio of 2.86 and a beta of 0.90. The company's 50-day moving average is $619.13 and its 200 day moving average is $596.29. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.75 EPS. Research analysts expect that Deere & Company will post 18.12 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 9th. Stockholders of record on Wednesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 0.9%. Deere & Company's dividend payout ratio is currently 36.00%.

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.

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