Allianz SE Takes $7.62 Million Position in Deere & Company (NYSE:DE)

Allianz SE purchased a new position in Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,951 shares of the industrial products company's stock, valued at approximately $7,622,000.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Everence Capital Management Inc. lifted its position in Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock valued at $5,179,000 after acquiring an additional 7,300 shares in the last quarter. Stockbridge Partners LLC lifted its holdings in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $254,000. Toronto Dominion Bank grew its holdings in Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after buying an additional 1,291 shares in the last quarter. Finally, Czech National Bank raised its position in Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after buying an additional 2,964 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DE shares. StockNews.com upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday. Citigroup increased their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Robert W. Baird reaffirmed a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Finally, Evercore ISI lifted their price target on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $460.00.

Insider Activity at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Deere & Company Price Performance

Shares of DE traded down $5.87 during trading hours on Wednesday, reaching $472.58. 532,109 shares of the company's stock traded hands, compared to its average volume of 1,397,519. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock has a market cap of $128.26 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The firm's 50 day simple moving average is $477.87 and its 200-day simple moving average is $441.29.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.37%. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

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.