Commerzbank Aktiengesellschaft FI Sells 1,568 Shares of Deere & Company $DE

Commerzbank Aktiengesellschaft FI lowered its holdings in shares of Deere & Company (NYSE:DE) by 31.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,404 shares of the industrial products company’s stock after selling 1,568 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Deere & Company were worth $1,917,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Florida Financial Advisors LLC purchased a new position in shares of Deere & Company during the 1st quarter worth $204,000. Basepoint Wealth LLC grew its position in shares of Deere & Company by 0.3% during the 1st quarter. Basepoint Wealth LLC now owns 11,797 shares of the industrial products company’s stock valued at $6,645,000 after acquiring an additional 30 shares during the period. Carson Advisory Inc. purchased a new stake in shares of Deere & Company in the 1st quarter worth $228,000. Meeder Advisory Services Inc. increased its stake in shares of Deere & Company by 13.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 5,889 shares of the industrial products company’s stock worth $3,317,000 after purchasing an additional 708 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. raised its holdings in Deere & Company by 16.2% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 5,560 shares of the industrial products company’s stock worth $3,132,000 after purchasing an additional 775 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.4%

Shares of Deere & Company stock opened at $588.06 on Wednesday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a market capitalization of $158.74 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.15 and a beta of 0.89. The company has a fifty day moving average of $582.48 and a 200 day moving average of $573.70.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period last year, the firm earned $6.64 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 18.27 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Truist Financial upped their price target on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Barclays raised their price objective on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th. Finally, Raymond James Financial reduced their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target 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.