Erste Asset Management GmbH Reduces Stock Position in Deere & Company $DE

Erste Asset Management GmbH lowered its holdings in shares of Deere & Company (NYSE:DE) by 28.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 24,357 shares of the industrial products company’s stock after selling 9,727 shares during the quarter. Erste Asset Management GmbH’s holdings in Deere & Company were worth $11,453,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Strategic Advocates LLC bought a new position in shares of Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC bought a new position in shares of Deere & Company during the 4th quarter worth $27,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company during the 4th quarter worth $30,000. Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the 3rd quarter worth $32,000. Finally, Tucker Asset Management LLC bought a new position in shares of Deere & Company during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.7%

Shares of NYSE DE opened at $573.50 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market capitalization of $154.81 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business has a fifty day moving average price of $572.71 and a 200 day moving average price of $546.79.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.64 EPS. Equities research analysts expect that Deere & Company will post 18.08 EPS 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. Investors of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DE. BMO Capital Markets increased their price target on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Truist Financial dropped their price target on Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. Wolfe Research increased their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Oppenheimer reissued an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Finally, UBS Group increased their target price on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.