Assenagon Asset Management S.A. Acquires 5,053 Shares of Deere & Company (NYSE:DE)

Assenagon Asset Management S.A. boosted its holdings in shares of Deere & Company (NYSE:DE) by 58.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,625 shares of the industrial products company’s stock after acquiring an additional 5,053 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Deere & Company were worth $6,395,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $43,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $44,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

DE opened at $509.04 on Friday. 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 company’s fifty day moving average price is $487.24 and its two-hundred day moving average price is $468.53. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a market cap of $137.86 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.14 and a beta of 1.09.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company’s payout ratio is 31.35%.

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. BMO Capital Markets restated a “market perform” rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Citigroup dropped their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Finally, Oppenheimer boosted their target price on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $515.19.

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.