Generali Asset Management SPA SGR Decreases Stake in Deere & Company $DE

Generali Asset Management SPA SGR cut its stake in shares of Deere & Company (NYSE:DE) by 16.8% during the third quarter, HoldingsChannel.com reports. The firm owned 17,607 shares of the industrial products company’s stock after selling 3,554 shares during the period. Generali Asset Management SPA SGR’s holdings in Deere & Company were worth $8,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Deere & Company during the second quarter worth about $25,000. Howard Hughes Medical Institute acquired a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $27,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $38,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 2nd quarter worth approximately $39,000. Finally, Center for Financial Planning Inc. increased its stake in Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DE shares. Jefferies Financial Group boosted their target price on Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Royal Bank Of Canada dropped their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a report on Friday, November 28th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $580.00 price target on shares of Deere & Company in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $522.70.

Deere & Company Trading Down 0.9%

Deere & Company stock opened at $465.73 on Friday. The stock has a market cap of $125.96 billion, a PE ratio of 25.16, a P/E/G ratio of 1.78 and a beta of 1.00. The stock has a 50-day moving average price of $473.45 and a 200 day moving average price of $483.81. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter last year, the company posted $4.55 earnings per share. Deere & Company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Transactions at Deere & Company

In other Deere & Company news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

About Deere & Company

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.