DJE Kapital AG Sells 91,079 Shares of Deere & Company $DE

DJE Kapital AG trimmed its holdings in Deere & Company (NYSE:DE) by 99.2% during the fourth quarter, Holdings Channel reports. The firm owned 700 shares of the industrial products company’s stock after selling 91,079 shares during the quarter. DJE Kapital AG’s holdings in Deere & Company were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Aviva PLC grew its stake in Deere & Company by 6.2% during the fourth quarter. Aviva PLC now owns 218,441 shares of the industrial products company’s stock worth $101,700,000 after purchasing an additional 12,674 shares during the period. Great Valley Advisor Group Inc. increased its holdings in Deere & Company by 6.2% in the fourth quarter. Great Valley Advisor Group Inc. now owns 5,117 shares of the industrial products company’s stock worth $2,382,000 after purchasing an additional 299 shares in the last quarter. Kovack Advisors Inc. lifted its stake in Deere & Company by 112.5% in the fourth quarter. Kovack Advisors Inc. now owns 2,856 shares of the industrial products company’s stock valued at $1,330,000 after buying an additional 1,512 shares during the period. Compass Capital Management Inc. lifted its stake in Deere & Company by 180.9% in the fourth quarter. Compass Capital Management Inc. now owns 15,223 shares of the industrial products company’s stock valued at $7,087,000 after buying an additional 9,803 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Deere & Company by 88.9% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 8,500 shares of the industrial products company’s stock worth $3,957,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James Financial lowered 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 note on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Truist Financial decreased their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. increased their price target on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Trading Up 1.6%

Shares of DE stock opened at $569.09 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a market capitalization of $153.62 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 2.07 and a beta of 0.92. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a 50-day simple moving average of $573.17 and a two-hundred day simple moving average of $548.69.

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 the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $6.64 EPS. Research analysts anticipate that Deere & Company will post 18.13 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. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is currently 36.71%.

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.