Tredje AP fonden raised its holdings in Deere & Company (NYSE:DE) by 19.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 21,815 shares of the industrial products company’s stock after acquiring an additional 3,593 shares during the period. Tredje AP fonden’s holdings in Deere & Company were worth $2,535,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Atlas Private Wealth Management purchased a new stake in shares of Deere & Company in the fourth quarter valued at $29,000. Solstein Capital LLC purchased a new position in Deere & Company during the fourth quarter worth about $35,000. Danda Trouve Investment Management Inc. acquired a new stake in Deere & Company in the 4th quarter worth about $35,000. MBE Wealth Management LLC purchased a new stake in Deere & Company in the 1st quarter valued at about $35,000. Finally, Wealth Quarterback LLC purchased a new stake in Deere & Company in the 4th quarter valued at about $38,000. 67.55% of the stock is currently owned by institutional investors.
Shares of NYSE:DE traded down $2.10 during mid-day trading on Friday, hitting $140.71. 3,426,656 shares of the company traded hands, compared to its average volume of 1,765,039. The firm’s 50 day simple moving average is $137.27 and its 200 day simple moving average is $157.92. The firm has a market cap of $44.79 billion, a P/E ratio of 13.75, a PEG ratio of 3.35 and a beta of 0.93. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.84 and a current ratio of 2.12. Deere & Company has a 52-week low of $106.14 and a 52-week high of $181.99.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, May 22nd. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.12. The business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.52 earnings per share. Equities research analysts expect that Deere & Company will post 6.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were issued a $0.76 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a yield of 2.16%. Deere & Company’s dividend payout ratio is currently 30.58%.
Several equities research analysts recently issued reports on the stock. Telsey Advisory Group raised shares of Deere & Company from a “market perform” rating to an “outperform” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. upgraded shares of Deere & Company from an “underweight” rating to a “neutral” rating and set a $140.00 price target on the stock in a report on Friday, March 27th. They noted that the move was a valuation call. Morgan Stanley dropped their price objective on Deere & Company from $205.00 to $171.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Argus reissued a “buy” rating and set a $166.65 price target (down previously from $185.00) on shares of Deere & Company in a research report on Wednesday, February 26th. Finally, Bank of America upgraded Deere & Company from an “underperform” rating to a “buy” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $168.04.
Deere & 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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