Amova Asset Management Americas Inc. Decreases Stake in Deere & Company $DE

Amova Asset Management Americas Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 15.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 187,073 shares of the industrial products company’s stock after selling 32,918 shares during the quarter. Deere & Company comprises approximately 1.5% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 20th largest holding. Amova Asset Management Americas Inc.’s holdings in Deere & Company were worth $105,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of DE. Florida Financial Advisors LLC purchased a new position in shares of Deere & Company in the 1st quarter worth $204,000. Basepoint Wealth LLC lifted its holdings in Deere & Company by 0.3% in the first quarter. Basepoint Wealth LLC now owns 11,797 shares of the industrial products company’s stock valued at $6,645,000 after acquiring an additional 30 shares during the period. Carson Advisory Inc. bought a new position in Deere & Company in the first quarter valued at about $228,000. Meeder Advisory Services Inc. boosted its position in Deere & Company by 13.7% in the first quarter. Meeder Advisory Services Inc. now owns 5,889 shares of the industrial products company’s stock worth $3,317,000 after purchasing an additional 708 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. grew its stake in shares of Deere & Company by 16.2% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 5,560 shares of the industrial products company’s stock valued at $3,132,000 after purchasing an additional 775 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $586.13 on Tuesday. The company has a market capitalization of $158.22 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.21 and a beta of 0.89. 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 stock’s 50-day simple moving average is $582.50 and its 200-day simple moving average is $572.84. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted $6.64 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research reports. Citigroup upped their price target on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a research report on Wednesday, April 8th. Barclays upped their target price on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Truist Financial lifted their price target on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Raymond James Financial cut their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. 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 data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company 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.