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

Andra AP fonden raised its holdings in Deere & Company (NYSE:DE) by 120.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,803 shares of the industrial products company’s stock after purchasing an additional 16,823 shares during the quarter. Andra AP fonden’s holdings in Deere & Company were worth $17,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC grew its position in Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC lifted its stake in shares of Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after buying an additional 30,553 shares in the last quarter. Westpac Banking Corp grew its holdings in shares of Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares during the last quarter. Eldred Rock Partners LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $13,166,000. Finally, Natixis Advisors LLC increased its position in shares of Deere & Company by 13.4% during the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock valued at $180,919,000 after acquiring an additional 45,782 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE opened at $586.13 on Tuesday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The firm has a market capitalization of $158.22 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.21 and a beta of 0.89. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average of $582.50 and a 200 day moving average of $572.84.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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 net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the firm earned $6.64 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Wolfe Research lifted their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Robert W. Baird decreased their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Barclays upped their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company 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.