Munich Reinsurance Co Stock Corp in Munich lowered its stake in shares of Deere & Company (NYSE:DE – Free Report) by 94.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 274 shares of the industrial products company’s stock after selling 4,912 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Deere & Company were worth $174,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in DE. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Deere & Company in the second quarter valued at about $27,000. Kilter Group LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $29,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $29,000. Solstein Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $30,000. Finally, Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Deere & Company Stock Down 0.2%
DE stock opened at $692.68 on Friday. The company’s 50 day moving average is $619.13 and its 200 day moving average is $596.29. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The stock has a market cap of $186.76 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. Deere & Company has a 1-year low of $433.00 and a 1-year high of $705.88.
Deere & Company Announces Dividend
The firm also recently disclosed 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is presently 36.00%.
Wall Street Analysts Forecast Growth
DE has been the subject of a number of recent research reports. DA Davidson raised their target price on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Oppenheimer increased their target price on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Raymond James Financial lifted their target price on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Citigroup upped their price target on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Finally, Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $640.00 to $800.00 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $680.73.
Get Our Latest Stock Report on DE
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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