Generali Asset Management SPA SGR Reduces Stock Holdings in Deere & Company $DE

Generali Asset Management SPA SGR lessened its stake in shares of Deere & Company (NYSE:DE) by 16.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,607 shares of the industrial products company’s stock after selling 3,554 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Deere & Company were worth $8,051,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Deere & Company in the second quarter valued at $1,578,243,000. Marshall Wace LLP increased its position in shares of Deere & Company by 573.9% during the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after purchasing an additional 717,808 shares in the last quarter. TD Asset Management Inc increased its position in shares of Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after purchasing an additional 410,636 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after purchasing an additional 361,526 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its position in shares of Deere & Company by 50,691.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock valued at $168,910,000 after purchasing an additional 331,525 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Robert W. Baird reduced their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Jefferies Financial Group lifted their target price on shares of Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Wells Fargo & Company began coverage on shares of Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective on the stock. Finally, Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $522.70.

Deere & Company Stock Performance

Shares of DE opened at $465.73 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The stock has a market capitalization of $125.96 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.78 and a beta of 1.00. The company’s fifty day moving average is $473.45 and its two-hundred day moving average is $483.81. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $4.55 EPS. On average, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st 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 of this dividend is Wednesday, December 31st. Deere & Company’s payout ratio is currently 35.01%.

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.