Amova Asset Management Americas Inc. Has $102.43 Million Position in Deere & Company $DE

Amova Asset Management Americas Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 14.8% during the fourth quarter, Holdings Channel reports. The fund owned 219,991 shares of the industrial products company’s stock after acquiring an additional 28,278 shares during the quarter. Deere & Company comprises about 1.2% of Amova Asset Management Americas Inc.’s holdings, making the stock its 25th biggest holding. Amova Asset Management Americas Inc.’s holdings in Deere & Company were worth $102,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after buying an additional 198,332 shares in the last quarter. Capital World Investors raised its position in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Geode Capital Management LLC raised its position in Deere & Company by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after purchasing an additional 17,269 shares during the last quarter. Norges Bank bought a new position in Deere & Company in the fourth quarter valued at about $1,715,633,000. Finally, Fisher Asset Management LLC raised its position in Deere & Company by 4.8% in the fourth quarter. Fisher Asset Management LLC now owns 2,853,156 shares of the industrial products company’s stock valued at $1,328,344,000 after purchasing an additional 131,138 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.8%

Shares of Deere & Company stock opened at $578.07 on Wednesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The stock has a 50 day moving average price of $572.93 and a two-hundred day moving average price of $547.52. The stock has a market capitalization of $156.04 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter last year, the firm posted $6.64 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 18.1 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid 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 dividend payout ratio (DPR) is 36.71%.

Wall Street Analyst Weigh In

Several research firms have commented on DE. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Sanford C. Bernstein increased their target price on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. BMO Capital Markets increased their price target on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Robert W. Baird decreased their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, UBS Group increased their price target on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $639.58.

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.