Raiffeisen Bank International AG Acquires Shares of 21,458 Deere & Company (NYSE:DE)

Raiffeisen Bank International AG acquired a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,458 shares of the industrial products company’s stock, valued at approximately $9,112,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC grew its holdings in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the 4th quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth $35,000. Sierra Ocean LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth $48,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DE. Oppenheimer increased their target price on Deere & Company from $510.00 to $513.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Finally, Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $462.44.

Deere & Company Trading Up 3.9%

Shares of DE stock opened at $516.85 on Friday. The stock has a market cap of $140.28 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.14 and a beta of 1.08. The stock has a 50-day moving average of $467.17 and a 200-day moving average of $453.46. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 1-year low of $340.20 and a 1-year high of $531.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s payout ratio is 28.72%.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Deere & 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.