Andra AP fonden Raises Stock Position in Deere & Company $DE

Andra AP fonden raised its holdings in shares of Deere & Company (NYSE:DE) by 24.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,800 shares of the industrial products company’s stock after acquiring an additional 7,800 shares during the quarter. Andra AP fonden’s holdings in Deere & Company were worth $18,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of Deere & Company by 30.6% during the second quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock worth $185,143,000 after acquiring an additional 85,351 shares during the last quarter. Csenge Advisory Group grew its position in shares of Deere & Company by 84.9% during the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock valued at $3,402,000 after purchasing an additional 3,416 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Deere & Company by 1.0% in the second quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock worth $2,379,000 after purchasing an additional 45 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Deere & Company in the second quarter worth about $3,615,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Deere & Company in the second quarter worth about $4,550,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. DA Davidson raised their target price on shares of Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wells Fargo & Company upped their price target on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Morgan Stanley increased their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Truist Financial boosted their target price on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $637.70.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Stock Up 1.6%

Shares of DE opened at $629.32 on Friday. The firm has a market capitalization of $170.59 billion, a P/E ratio of 35.47, a P/E/G ratio of 2.19 and a beta of 1.02. Deere & Company has a 12-month low of $404.42 and a 12-month high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The firm has a fifty day moving average price of $537.84 and a 200-day moving average price of $495.59.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. Equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Deere & Company Profile

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.