Banco Bilbao Vizcaya Argentaria S.A. Has $10.17 Million Position in Deere & Company $DE

Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Deere & Company (NYSE:DE) by 5.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,254 shares of the industrial products company’s stock after purchasing an additional 1,127 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Deere & Company were worth $10,172,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Deere & Company in the 2nd quarter worth approximately $1,578,243,000. Marshall Wace LLP grew its holdings in shares of Deere & Company by 573.9% during the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock valued at $428,597,000 after acquiring an additional 717,808 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Deere & Company by 278.0% in the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after acquiring an additional 358,687 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of Deere & Company by 50,691.9% in the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after acquiring an additional 331,525 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Deere & Company by 21.7% during the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after acquiring an additional 323,512 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DE shares. Evercore reissued a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Citigroup cut their price target on Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research note on Monday, March 9th. UBS Group lifted their price target on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. Finally, Argus raised their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $644.70.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the transaction, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction 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 owned by corporate insiders.

Deere & Company Price Performance

NYSE DE opened at $577.42 on Monday. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19. The stock’s 50-day moving average is $564.21 and its two-hundred day moving average is $503.15. The firm has a market cap of $155.97 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.19 EPS. On average, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s payout ratio is 36.53%.

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.