Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Deere & Company (NYSE:DE) by 33.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 136,081 shares of the industrial products company’s stock after purchasing an additional 34,407 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Deere & Company were worth $21,751,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Destination Wealth Management grew its position in shares of Deere & Company by 20,500.0% during the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 205 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in Deere & Company by 155.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after buying an additional 145 shares during the last quarter. Athena Capital Advisors LLC acquired a new stake in Deere & Company in the 4th quarter worth about $36,000. Field & Main Bank acquired a new stake in Deere & Company in the 1st quarter worth about $40,000. Finally, Lavaca Capital LLC acquired a new stake in Deere & Company in the 4th quarter worth about $41,000. 68.23% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on DE shares. Zacks Investment Research cut Deere & Company from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. UBS Group started coverage on shares of Deere & Company in a research note on Tuesday, April 23rd. They issued a “neutral” rating and a $238.00 target price on the stock. Argus raised their target price on shares of Deere & Company to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Bank of America lowered shares of Deere & Company from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $173.00 to $170.00 in a research note on Wednesday, February 13th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $211.00 target price on shares of Deere & Company in a research note on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Deere & Company currently has an average rating of “Buy” and an average target price of $179.43.
DE stock opened at $165.01 on Monday. The company has a market cap of $52.55 billion, a PE ratio of 17.57, a PEG ratio of 1.73 and a beta of 0.90. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.68 and a current ratio of 1.98. Deere & Company has a one year low of $128.32 and a one year high of $169.99.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.22). The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. Analysts forecast that Deere & Company will post 11.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s payout ratio is presently 32.37%.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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