Deere & Company $DE Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in shares of Deere & Company (NYSE:DE) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,788 shares of the industrial products company’s stock after acquiring an additional 163 shares during the period. Assenagon Asset Management S.A.’s holdings in Deere & Company were worth $7,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Activest Wealth Management raised its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company during the second quarter worth about $39,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the fourth quarter worth about $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DE. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Oppenheimer cut their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Citigroup cut their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $517.27.

Deere & Company Trading Up 0.5%

NYSE DE opened at $471.57 on Wednesday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a 50-day moving average of $491.82 and a 200-day moving average of $490.03. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a market cap of $127.48 billion, a P/E ratio of 24.65, a P/E/G ratio of 3.02 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the company posted $6.29 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company 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 is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 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.