MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Stock Position in Deere & Company $DE

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Deere & Company (NYSE:DE) by 3,651.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,142 shares of the industrial products company’s stock after acquiring an additional 10,845 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Deere & Company were worth $5,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. BridgePort Financial Solutions LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $184,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $43,000. Copia Wealth Management acquired a new position in Deere & Company in the 4th quarter valued at $134,000. Finally, Old North State Trust LLC increased its stake in Deere & Company by 11.9% in the 4th quarter. Old North State Trust LLC now owns 668 shares of the industrial products company’s stock valued at $283,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DE. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. DA Davidson dropped their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Robert W. Baird dropped their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 2nd. Finally, Truist Financial lowered their price target 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $517.27.

Deere & Company Price Performance

NYSE:DE opened at $469.21 on Thursday. The firm has a market cap of $126.84 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company’s 50-day moving average is $491.04 and its two-hundred day moving average is $489.89. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

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

Deere & Company Announces Dividend

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

Deere & Company 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.