Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Position in Deere & Company $DE

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Deere & Company (NYSE:DE) by 58.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,436 shares of the industrial products company’s stock after buying an additional 22,770 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Deere & Company were worth $34,607,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Advocates LLC purchased a new position in shares of Deere & Company in the 3rd quarter valued at approximately $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $30,000. Finally, Portus Wealth Advisors LLC acquired a new stake in shares of Deere & Company during the first quarter worth $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.0%

Shares of DE stock opened at $621.09 on Friday. The business’s fifty day moving average price is $577.59 and its 200 day moving average price is $562.28. The firm has a market capitalization of $167.66 billion, a PE ratio of 35.19, a P/E/G ratio of 2.32 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS 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 company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the firm earned $6.64 EPS. The business’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. Truist Financial boosted their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Robert W. Baird lowered their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Wolfe Research boosted their price target on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Finally, Bank of America dropped their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus target price of $642.23.

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.