Commerzbank Aktiengesellschaft FI Has $2.32 Million Holdings in Deere & Company $DE

Commerzbank Aktiengesellschaft FI trimmed its holdings in Deere & Company (NYSE:DE) by 80.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,972 shares of the industrial products company’s stock after selling 20,878 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Deere & Company were worth $2,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after buying an additional 19 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Deere & Company by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock worth $360,000 after buying an additional 20 shares in the last quarter. Family Legacy Inc. lifted its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock worth $3,675,000 after buying an additional 20 shares in the last quarter. Blue Chip Partners LLC lifted its holdings in shares of Deere & Company by 1.4% in the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock worth $801,000 after buying an additional 21 shares in the last quarter. Finally, Bouchey Financial Group Ltd lifted its holdings in shares of Deere & Company by 4.4% in the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock worth $229,000 after buying an additional 21 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the topic of several research analyst reports. Robert W. Baird lowered their target price on shares of Deere & Company from $675.00 to $580.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Wells Fargo & Company upped their price target on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Wolfe Research upped their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Bank of America upped their price target on shares of Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Citigroup decreased their price target on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a research note on Monday, March 9th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Trading Down 2.2%

Shares of DE opened at $562.12 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a market cap of $151.83 billion, a P/E ratio of 31.69, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The company’s fifty day simple moving average is $580.96 and its 200-day simple moving average is $537.02.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 18.01 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were paid a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio is currently 36.53%.

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.