Oddo BHF Asset Management Sas Sells 2,934 Shares of Deere & Company $DE

Oddo BHF Asset Management Sas cut its holdings in Deere & Company (NYSE:DE) by 72.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,120 shares of the industrial products company’s stock after selling 2,934 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Deere & Company were worth $631,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in DE. Strategic Investment Advisors MI acquired a new position in shares of Deere & Company during the first quarter worth approximately $177,000. Ashton Thomas Securities LLC increased its holdings in shares of Deere & Company by 25.8% in the first quarter. Ashton Thomas Securities LLC now owns 1,538 shares of the industrial products company’s stock valued at $866,000 after purchasing an additional 315 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Deere & Company by 2.1% in the first quarter. Arkadios Wealth Advisors now owns 11,031 shares of the industrial products company’s stock valued at $6,213,000 after purchasing an additional 229 shares in the last quarter. IFS Group LLC bought a new position in Deere & Company in the 1st quarter worth approximately $315,000. Finally, Claris Financial LLC bought a new position in Deere & Company in the 1st quarter worth approximately $233,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

DE stock opened at $599.98 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $161.96 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 2.58 and a beta of 0.89. The business’s fifty day moving average is $590.30 and its 200-day moving average is $580.57.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The business 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.64 earnings per share. Equities research analysts forecast that Deere & Company will post 18.28 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. DA Davidson reiterated a “buy” rating and issued a $685.00 price objective on shares of Deere & Company in a research report on Friday, July 17th. Raymond James Financial dropped their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Bank of America decreased their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $642.98.

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.