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

Assenagon Asset Management S.A. raised its position in Deere & Company (NYSE:DE) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,680 shares of the industrial products company’s stock after acquiring an additional 927 shares during the period. Assenagon Asset Management S.A.’s holdings in Deere & Company were worth $3,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after buying an additional 770,451 shares during the last quarter. Swedbank AB purchased a new position in shares of Deere & Company in the first quarter worth $191,628,000. Mawer Investment Management Ltd. purchased a new position in shares of Deere & Company in the second quarter worth $166,937,000. Dimensional Fund Advisors LP raised its holdings in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Citigroup raised their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 0.3 %

Shares of NYSE DE opened at $404.69 on Thursday. The company’s 50-day simple moving average is $399.90 and its 200-day simple moving average is $385.36. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The firm has a market cap of $111.52 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the business earned $10.20 earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.