Commerzbank Aktiengesellschaft FI Sells 1,189 Shares of Deere & Company $DE

Commerzbank Aktiengesellschaft FI cut its stake in shares of Deere & Company (NYSE:DE) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,746 shares of the industrial products company’s stock after selling 1,189 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Deere & Company were worth $12,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DE. Brighton Jones LLC grew its stake in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Deere & Company by 27.4% during the 1st quarter. Farther Finance Advisors LLC now owns 3,220 shares of the industrial products company’s stock valued at $1,541,000 after acquiring an additional 692 shares during the period. GAMMA Investing LLC grew its stake in shares of Deere & Company by 30.6% during the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock valued at $1,753,000 after acquiring an additional 876 shares during the period. Simplicity Wealth LLC grew its stake in shares of Deere & Company by 91.5% during the 1st quarter. Simplicity Wealth LLC now owns 1,061 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 507 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Deere & Company by 42.3% during the 1st quarter. SG Americas Securities LLC now owns 5,836 shares of the industrial products company’s stock valued at $2,739,000 after acquiring an additional 1,735 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer cut their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Jefferies Financial Group dropped their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Finally, Citigroup dropped their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $513.88.

Deere & Company Stock Down 1.1%

Shares of DE opened at $455.73 on Friday. The stock has a market capitalization of $123.20 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The business’s 50 day simple moving average is $480.23 and its 200-day simple moving average is $488.58. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $6.29 EPS. As a group, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.