Commerzbank Aktiengesellschaft FI Purchases New Position in Deere & Company $DE

Commerzbank Aktiengesellschaft FI acquired a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,256 shares of the industrial products company’s stock, valued at approximately $9,677,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Anchyra Partners LLC grew its stake in shares of Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. lifted its position in Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 17 shares in the last quarter. Advisortrust Partners LLC boosted its holdings in Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its holdings in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 1.4%

DE stock opened at $600.08 on Tuesday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $161.99 billion, a P/E ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. The firm has a 50 day simple moving average of $603.76 and a 200-day simple moving average of $588.84.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the company posted $6.64 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Ratings Changes

A number of research firms have recently commented on DE. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Raymond James Financial dropped their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Citigroup boosted their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research report on Friday. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $641.98.

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.