Amova Asset Management Americas Inc. Reduces Stock Holdings in Deere & Company $DE

Amova Asset Management Americas Inc. lowered its stake in Deere & Company (NYSE:DE) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,073 shares of the industrial products company’s stock after selling 32,918 shares during the period. Deere & Company accounts for approximately 1.5% of Amova Asset Management Americas Inc.’s holdings, making the stock its 20th biggest holding. Amova Asset Management Americas Inc. owned 0.07% of Deere & Company worth $105,367,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Anchyra Partners LLC increased its position in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares during the period. William B. Walkup & Associates Inc. grew its holdings in shares of Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 17 shares during the period. Advisortrust Partners LLC grew its holdings in shares of Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC raised its position in shares of Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of several research reports. Truist Financial lifted their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research raised their price objective on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Raymond James Financial dropped their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Finally, Citigroup increased their price target on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Trading Down 1.9%

NYSE DE opened at $586.13 on Tuesday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market cap of $158.22 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.21 and a beta of 0.89. The stock’s fifty day moving average price is $582.50 and its 200-day moving average price is $572.84. 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 quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.64 EPS. As a group, equities analysts forecast that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is 36.71%.

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.