Deere & Company (NYSE:DE) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG has reduced its stake in Deere & Company by 2.8%, selling 591 shares and holding a total of 20,867 shares valued at approximately $9.71 million.
• Analyst ratings for Deere & Company show a range of sentiments with one sell rating, twelve hold ratings, eight buy ratings, and one strong buy, while the average target price is set at $515.50.
• Deere & Company recently reported $6.64 earnings per share for the quarter, surpassing expectations and announcing a quarterly dividend of $1.62, reflecting a 1.3% yield.

Raiffeisen Bank International AG trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,867 shares of the industrial products company's stock after selling 591 shares during the quarter. Raiffeisen Bank International AG's holdings in Deere & Company were worth $9,710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the first quarter valued at $29,000. Cornerstone Planning Group LLC grew its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the 4th quarter valued at about $39,000. Finally, Citizens National Bank Trust Department bought a new stake in shares of Deere & Company in the 1st quarter valued at about $45,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE traded down $2.58 during mid-day trading on Tuesday, hitting $507.98. The stock had a trading volume of 1,027,884 shares, compared to its average volume of 1,157,231. The firm has a market cap of $137.58 billion, a PE ratio of 24.58, a PEG ratio of 3.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a 50 day moving average of $512.28 and a two-hundred day moving average of $488.12. Deere & Company has a twelve month low of $342.70 and a twelve month high of $533.78.

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

Deere & Company Dividend Announcement

The firm also recently declared 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. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is 31.35%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Bank of America increased their target price on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Evercore ISI boosted their price target on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Robert W. Baird boosted their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $515.50.

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.