Norges Bank Acquires New Holdings in Deere & Company $DE

Norges Bank acquired a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,685,016 shares of the industrial products company’s stock, valued at approximately $1,715,633,000. Norges Bank owned approximately 1.36% of Deere & Company as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DE. Strategic Advocates LLC bought a new position in shares of Deere & Company in the 3rd quarter valued at approximately $25,000. Key Capital Management INC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $27,000. Activest Wealth Management raised its stake in shares of Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 27 shares in the last quarter. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $542.34 on Friday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market capitalization of $146.49 billion, a PE ratio of 30.73, a PEG ratio of 2.00 and a beta of 0.96. The business’s 50 day moving average is $572.29 and its 200-day moving average is $542.07. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the firm earned $6.64 EPS. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Analyst Ratings Changes

Several brokerages have commented on DE. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Argus lifted their price target on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Citigroup dropped their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. BMO Capital Markets lifted their price target on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Finally, Morgan Stanley lifted their price target on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.08.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.