Deutsche Bank AG Trims Position in Deere & Company $DE

Deutsche Bank AG decreased its holdings in shares of Deere & Company (NYSE:DE) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 754,833 shares of the industrial products company’s stock after selling 17,538 shares during the period. Deutsche Bank AG owned approximately 0.28% of Deere & Company worth $351,428,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new position in shares of Deere & Company in the 3rd quarter valued at approximately $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $27,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $30,000. Wealth Watch Advisors INC purchased a new position in Deere & Company in the 3rd quarter valued at $32,000. Finally, Tucker Asset Management LLC purchased a new position in Deere & Company in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $560.95 on Thursday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a market capitalization of $151.42 billion, a P/E ratio of 31.78, a PEG ratio of 2.14 and a beta of 0.92. The business has a 50 day moving average price of $573.05 and a 200 day moving average price of $548.11. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $6.64 earnings per share. Sell-side analysts expect that Deere & Company will post 18.1 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s payout ratio is currently 36.71%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. DA Davidson lowered their target price on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. BMO Capital Markets boosted their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Finally, Citigroup lowered their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $639.58.

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.