Deere & Company (NYSE:DE) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in shares of Deere & Company (NYSE:DE) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,572 shares of the industrial products company’s stock after selling 108 shares during the period. Assenagon Asset Management S.A.’s holdings in Deere & Company were worth $3,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter valued at about $32,000. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at about $32,000. Centennial Bank AR raised its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Continuum Advisory LLC lifted its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $47,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DE shares. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup lowered their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $442.83.

Deere & Company Trading Up 1.7 %

Shares of Deere & Company stock opened at $463.06 on Wednesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company has a market capitalization of $126.11 billion, a P/E ratio of 18.09, a PEG ratio of 2.81 and a beta of 0.98. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company’s fifty day moving average is $432.55 and its two-hundred day moving average is $403.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the firm earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

About Deere & Company

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.