Commerzbank Aktiengesellschaft FI lowered its position in shares of Deere & Company (NYSE:DE – Free Report) by 31.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,404 shares of the industrial products company’s stock after selling 1,568 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Deere & Company were worth $1,917,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Cary Street Partners Financial LLC boosted its stake in Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 1,086 shares in the last quarter. Spectrum Financial Alliance Ltd LLC grew its position in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Westpac Banking Corp increased its stake in Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after purchasing an additional 3,047 shares in the last quarter. Eldred Rock Partners LLC bought a new stake in Deere & Company during the 4th quarter valued at about $13,166,000. Finally, Natixis Advisors LLC raised its holdings in Deere & Company by 13.4% in the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock worth $180,919,000 after buying an additional 45,782 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on DE shares. Wolfe Research increased their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Truist Financial boosted their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. DA Davidson reaffirmed a “buy” rating and issued a $685.00 price objective on shares of Deere & Company in a research report on Friday, July 17th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Oppenheimer reiterated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.98.
Deere & Company Stock Performance
Shares of NYSE DE opened at $588.06 on Wednesday. The firm’s 50-day moving average price is $582.48 and its 200-day moving average price is $573.70. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $158.74 billion, a PE ratio of 33.32, a PEG ratio of 2.15 and a beta of 0.89. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $6.64 earnings per share. As a group, analysts anticipate that Deere & Company will post 18.27 EPS for the current year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.
Deere & 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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