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

Andra AP fonden boosted its stake in shares of Deere & Company (NYSE:DE) by 24.4% during the third quarter, Holdings Channel.com reports. The firm owned 39,800 shares of the industrial products company’s stock after purchasing 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $27,000. Activest Wealth Management boosted its stake in Deere & Company by 69.2% in the third 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. Center for Financial Planning Inc. grew its holdings in Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the last quarter. Soundwatch Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth $41,000. Finally, United Community Bank increased its position in shares of Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

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

Analyst Ratings Changes

DE has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Evercore restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Truist Financial increased their price objective on shares of Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a research report on Friday, February 20th. DA Davidson lifted their target price on shares of Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, BMO Capital Markets raised their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $637.70.

Deere & Company Stock Performance

Shares of NYSE DE opened at $629.32 on Friday. The company has a 50 day simple moving average of $537.84 and a two-hundred day simple moving average of $495.59. The stock has a market cap of $170.59 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 2.19 and a beta of 1.02. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. Deere & Company has a 12 month low of $404.42 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last issued its 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 firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations 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 was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.19 earnings per share. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s payout ratio is 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.