Swedbank AB Lowers Holdings in Deere & Company (NYSE:DE)

Swedbank AB reduced its stake in Deere & Company (NYSE:DE) by 0.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 462,670 shares of the industrial products company’s stock after selling 26 shares during the period. Swedbank AB owned approximately 0.17% of Deere & Company worth $196,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Modus Advisors LLC bought a new position in shares of Deere & Company in the 4th quarter worth approximately $32,000. Livelsberger Financial Advisory bought a new position in Deere & Company in the third quarter worth approximately $32,000. Centennial Bank AR boosted its stake in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Deere & Company in the 3rd quarter worth $47,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $1.69 during midday trading on Wednesday, reaching $481.68. The company’s stock had a trading volume of 68,224 shares, compared to its average volume of 1,344,417. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a fifty day moving average of $441.75 and a 200 day moving average of $408.11. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. The firm has a market capitalization of $131.19 billion, a PE ratio of 18.81, a P/E/G ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the company posted $8.26 EPS. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Oppenheimer raised their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup decreased their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $444.50.

Deere & 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.