Erste Asset Management GmbH Decreases Stake in Deere & Company $DE

Erste Asset Management GmbH lessened its position in shares of Deere & Company (NYSE:DE) by 29.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,084 shares of the industrial products company’s stock after selling 13,899 shares during the period. Erste Asset Management GmbH’s holdings in Deere & Company were worth $15,865,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the second quarter worth $27,000. Activest Wealth Management lifted its holdings in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after buying an additional 27 shares during the last quarter. Center for Financial Planning Inc. boosted its position in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 61 shares in the last quarter. Soundwatch Capital LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth about $41,000. Finally, United Community Bank increased its holdings in shares of Deere & Company by 67.3% in the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 37 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the sale, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Stock Performance

Shares of DE opened at $629.32 on Friday. 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 firm has a market cap of $170.59 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The company’s 50 day simple moving average is $537.84 and its 200-day simple moving average is $495.59. Deere & Company has a 12-month low of $404.42 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. Deere & Company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 EPS. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio is presently 36.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DE shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Truist Financial upped their target price on shares of Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a report on Friday, February 20th. Evercore reiterated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Finally, Daiwa Securities Group reduced their price target on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research report on Tuesday, December 2nd. Fifteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $637.70.

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.