Skandinaviska Enskilda Banken AB publ Sells 762 Shares of Deere & Company (NYSE:DE)

Skandinaviska Enskilda Banken AB publ cut its holdings in Deere & Company (NYSE:DE) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,710 shares of the industrial products company’s stock after selling 762 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Deere & Company were worth $22,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. Wellington Management Group LLP boosted its stake in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. FMR LLC boosted its stake in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Raymond James Financial Inc. bought a new position in Deere & Company in the fourth quarter valued at approximately $296,232,000. Stockbridge Partners LLC boosted its stake in 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 acquiring an additional 540,874 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Deere & Company by 52,200.3% in the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after acquiring an additional 529,833 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Citigroup increased their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $460.00.

Deere & Company Stock Performance

Shares of DE opened at $466.64 on Friday. The firm has a 50-day moving average of $465.46 and a 200-day moving average of $432.18. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a market cap of $126.65 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

About Deere & Company

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.