Commerzbank Aktiengesellschaft FI Increases Stock Holdings in Deere & Company $DE

Commerzbank Aktiengesellschaft FI lifted its stake in shares of Deere & Company (NYSE:DE) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,850 shares of the industrial products company’s stock after buying an additional 2,104 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Deere & Company were worth $11,820,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Deere & Company by 1.4% in the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after acquiring an additional 309,081 shares during the last quarter. State Street Corp increased its position in shares of Deere & Company by 0.6% during the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Deere & Company by 2.1% during the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares in the last quarter. Norges Bank purchased a new stake in shares of Deere & Company in the 2nd quarter valued at about $1,578,243,000. Finally, Fisher Asset Management LLC boosted its position in shares of Deere & Company by 10.1% in the 2nd quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after purchasing an additional 236,406 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Buying and Selling

In other news, CEO John C. May II sold 41,472 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,578 shares of company stock worth $32,471,682 in the last ninety days. 0.29% of the stock is owned by corporate insiders.

Deere & Company Stock Performance

NYSE:DE opened at $514.92 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The firm has a market cap of $139.58 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. The firm’s fifty day moving average price is $482.61 and its 200 day moving average price is $481.87. Deere & Company has a 1-year low of $404.42 and a 1-year high of $533.78.

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

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is presently 35.01%.

Wall Street Analysts Forecast Growth

DE has been the topic of several research analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a research report on Tuesday, December 9th. Morgan Stanley restated an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Jefferies Financial Group upped their price target on shares of Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $524.20.

Deere & 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.