Raiffeisen Bank International AG Makes New Investment in Deere & Company (NYSE:DE)

Raiffeisen Bank International AG acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,458 shares of the industrial products company's stock, valued at approximately $9,112,000.

Several other large investors have also recently modified their holdings of DE. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $35,000. Sierra Ocean LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $44,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $48,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

NYSE:DE traded up $15.47 during trading hours on Friday, reaching $531.79. 2,322,036 shares of the company were exchanged, compared to its average volume of 1,416,780. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock's 50-day moving average is $468.29 and its 200-day moving average is $455.02. The firm has a market cap of $144.34 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.53 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is 28.72%.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DE. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Morgan Stanley upped their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday. Finally, Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $504.38.

Deere & Company 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.