Czech National Bank Increases Stock Position in Deere & Company $DE

Czech National Bank lifted its stake in Deere & Company (NYSE:DE) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,501 shares of the industrial products company’s stock after acquiring an additional 2,843 shares during the quarter. Czech National Bank’s holdings in Deere & Company were worth $45,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in Deere & Company by 9.1% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 34,847 shares of the industrial products company’s stock valued at $22,104,000 after purchasing an additional 2,900 shares during the period. Apella Capital LLC grew its holdings in Deere & Company by 0.7% during the second quarter. Apella Capital LLC now owns 6,559 shares of the industrial products company’s stock valued at $3,959,000 after purchasing an additional 47 shares during the period. Westmount Partners LLC increased its holdings in Deere & Company by 3.3% in the 2nd quarter. Westmount Partners LLC now owns 953 shares of the industrial products company’s stock worth $604,000 after acquiring an additional 30 shares in the last quarter. Clark Asset Management LLC increased its stake in Deere & Company by 0.8% in the 2nd quarter. Clark Asset Management LLC now owns 4,075 shares of the industrial products company’s stock worth $2,585,000 after buying an additional 32 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc bought a new stake in Deere & Company during the 2nd quarter valued at approximately $222,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DE. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Citigroup lifted their target price on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Truist Financial boosted their target price on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. DA Davidson restated a “buy” rating and set a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company Stock Performance

Deere & Company stock opened at $613.86 on Friday. The company’s 50-day moving average price is $597.99 and its 200-day moving average price is $584.16. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $165.70 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the company earned $6.64 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend 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.