Nordea Investment Management AB Decreases Stake in Deere & Company $DE

Nordea Investment Management AB lowered its position in shares of Deere & Company (NYSE:DE) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 468,988 shares of the industrial products company’s stock after selling 62,819 shares during the quarter. Nordea Investment Management AB’s holdings in Deere & Company were worth $219,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Strategic Advocates LLC purchased a new stake in shares of Deere & Company during the third quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new position in Deere & Company in the second quarter worth $27,000. Activest Wealth Management boosted its position in Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares during the last quarter. Wealth Watch Advisors INC bought a new position in Deere & Company in the 3rd quarter valued at $32,000. Finally, Soundwatch Capital LLC bought a new position in Deere & Company in the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 1.5%

Shares of NYSE DE opened at $558.81 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The stock has a market capitalization of $150.94 billion, a PE ratio of 31.50, a P/E/G ratio of 1.96 and a beta of 0.96. Deere & Company has a one year low of $404.42 and a one year high of $674.19. The business’s fifty day moving average price is $572.75 and its 200-day moving average price is $506.31.

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, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. During the same quarter last year, the firm posted $3.19 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Bank of America increased their price target on shares of Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a report on Friday, December 19th. DA Davidson lifted their price objective on shares of Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Argus increased their target price 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $644.70.

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.