Amundi Sells 45,688 Shares of Deere & Company $DE

Amundi trimmed its position in Deere & Company (NYSE:DE) by 3.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,120,096 shares of the industrial products company’s stock after selling 45,688 shares during the period. Amundi owned about 0.41% of Deere & Company worth $501,906,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Assenagon Asset Management S.A. increased its position in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after buying an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC grew its position in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc raised its position in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after acquiring an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in Deere & Company during the first quarter worth $13,588,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Deere & Company from $560.00 to $566.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Raymond James Financial lifted their price target on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. Truist Financial reduced their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. Finally, Citigroup reduced their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $520.87.

Deere & Company Stock Down 1.6%

Shares of NYSE:DE opened at $469.04 on Thursday. The company has a market capitalization of $126.80 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00. The business has a fifty day moving average price of $502.81 and a two-hundred day moving average price of $491.11. 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 has a 1 year low of $378.66 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the prior year, the company posted $6.29 EPS. Deere & Company’s revenue was down 9.0% compared to the same quarter last year. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

About Deere & Company

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.