Deere & Company (NYSE:DE) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Deere & Company (NYSE:DEGet Rating) by 154.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,105 shares of the industrial products company’s stock after purchasing an additional 4,916 shares during the period. Assenagon Asset Management S.A.’s holdings in Deere & Company were worth $2,706,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of DE. RB Capital Management LLC lifted its position in shares of Deere & Company by 5.2% during the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares during the last quarter. Bornite Capital Management LP bought a new position in shares of Deere & Company during the first quarter worth about $14,541,000. Retirement Income Solutions Inc bought a new position in shares of Deere & Company during the first quarter worth about $229,000. Sequoia Financial Advisors LLC lifted its position in shares of Deere & Company by 27.1% during the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Deere & Company by 32.4% during the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after purchasing an additional 27,985 shares during the last quarter. Institutional investors own 75.72% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 2,034 shares of Deere & Company stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $401.75, for a total value of $817,159.50. Following the transaction, the insider now owns 30,946 shares in the company, valued at $12,432,555.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Deere & Company news, insider Ryan D. Campbell sold 11,429 shares of Deere & Company stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $439.69, for a total value of $5,025,217.01. Following the transaction, the insider now owns 13,147 shares in the company, valued at $5,780,604.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Cory J. Reed sold 2,034 shares of Deere & Company stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $401.75, for a total transaction of $817,159.50. Following the completion of the transaction, the insider now owns 30,946 shares in the company, valued at approximately $12,432,555.50. The disclosure for this sale can be found here. Insiders have sold 32,339 shares of company stock worth $13,872,361 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Deere & Company Price Performance

NYSE DE opened at $433.48 on Thursday. Deere & Company has a 12 month low of $283.81 and a 12 month high of $448.40. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.98 and a quick ratio of 1.72. The firm has a market capitalization of $129.28 billion, a PE ratio of 18.58, a P/E/G ratio of 1.28 and a beta of 1.08. The company’s 50 day simple moving average is $426.66 and its 200 day simple moving average is $375.59.

Deere & Company (NYSE:DEGet Rating) last posted its quarterly earnings data on Wednesday, November 23rd. The industrial products company reported $7.44 EPS for the quarter, beating analysts’ consensus estimates of $7.08 by $0.36. Deere & Company had a net margin of 13.56% and a return on equity of 37.52%. The business had revenue of $14.35 billion for the quarter, compared to analyst estimates of $13.64 billion. As a group, equities research analysts forecast that Deere & Company will post 27.85 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Friday, December 30th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, December 29th. This is a positive change from Deere & Company’s previous quarterly dividend of $1.13. Deere & Company’s dividend payout ratio (DPR) is currently 20.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson increased their price target on shares of Deere & Company from $445.00 to $520.00 in a research report on Monday, November 28th. Argus raised their target price on shares of Deere & Company from $420.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, November 25th. Oppenheimer raised their target price on shares of Deere & Company from $415.00 to $492.00 in a report on Wednesday, November 23rd. The Goldman Sachs Group raised their target price on shares of Deere & Company from $420.00 to $462.00 and gave the stock a “buy” rating in a report on Monday, November 28th. Finally, Citigroup raised their target price on shares of Deere & Company from $425.00 to $505.00 and gave the stock a “buy” rating in a report on Thursday, December 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $459.05.

Deere & Company Company Profile

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Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

See Also

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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