Deutsche Bank AG Invests $435.18 Million in Deere & Company $DE

Deutsche Bank AG acquired a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 686,048 shares of the industrial products company’s stock, valued at approximately $435,181,000.

Several other hedge funds have also made changes to their positions in the stock. Timmons Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $29,000. McIlrath & Eck LLC acquired a new position in Deere & Company in the 4th quarter valued at approximately $30,000. Portus Wealth Advisors LLC acquired a new position in Deere & Company in the 1st quarter valued at approximately $32,000. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the 3rd quarter worth approximately $32,000. Finally, SHP Wealth Management bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $33,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.4%

DE stock opened at $600.08 on Tuesday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market cap of $161.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. The business’s 50 day moving average is $603.76 and its 200-day moving average is $588.84. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

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

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Raymond James Financial lowered their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Citigroup raised their target price on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. DA Davidson reissued a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $641.98.

About Deere & Company

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.