Commerzbank Aktiengesellschaft FI Sells 3,045 Shares of Deere & Company (NYSE:DE)

Commerzbank Aktiengesellschaft FI cut its position in shares of Deere & Company (NYSE:DE) by 10.0% during the 4th quarter, HoldingsChannel reports. The firm owned 27,425 shares of the industrial products company’s stock after selling 3,045 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Deere & Company were worth $11,620,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of Deere & Company by 2.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,619 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 88 shares in the last quarter. F M Investments LLC lifted its position in Deere & Company by 38.4% during the 3rd quarter. F M Investments LLC now owns 1,929 shares of the industrial products company’s stock valued at $805,000 after acquiring an additional 535 shares during the period. Clear Creek Financial Management LLC lifted its position in Deere & Company by 21.5% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,574 shares of the industrial products company’s stock valued at $657,000 after acquiring an additional 279 shares during the period. Optas LLC boosted its stake in Deere & Company by 9.4% during the third quarter. Optas LLC now owns 686 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 59 shares in the last quarter. Finally, Conning Inc. grew its holdings in Deere & Company by 19.4% in the third quarter. Conning Inc. now owns 2,453 shares of the industrial products company’s stock worth $1,024,000 after purchasing an additional 399 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 a number of analyst reports. Evercore ISI boosted their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Robert W. Baird reissued a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday. Citigroup increased their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $457.22.

Deere & Company Stock Performance

Shares of DE opened at $465.37 on Tuesday. The firm has a market capitalization of $126.74 billion, a P/E ratio of 20.63, a PEG ratio of 2.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The business has a fifty day moving average of $457.61 and a 200 day moving average of $427.33.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

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.