Deere & Company $DE Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its position in shares of Deere & Company (NYSE:DE) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,700 shares of the industrial products company’s stock after selling 1,400 shares during the period. Forsta AP Fonden’s holdings in Deere & Company were worth $25,001,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DE. Norges Bank purchased a new stake in Deere & Company during the 4th quarter worth about $1,715,633,000. Northwestern Mutual Wealth Management Co. increased its holdings in Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after purchasing an additional 1,893,972 shares during the period. M&T Bank Corp increased its holdings in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the period. Van ECK Associates Corp increased its holdings in Deere & Company by 278.0% during the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after purchasing an additional 358,687 shares during the period. Finally, Invesco Ltd. increased its holdings in Deere & Company by 21.7% during the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after purchasing an additional 323,512 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DE shares. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Barclays upped their price target on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Robert W. Baird cut their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Royal Bank Of Canada upped their price target on Deere & Company from $736.00 to $752.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $638.08.

Deere & Company Stock Up 0.6%

Shares of NYSE DE opened at $542.34 on Friday. The stock has a market cap of $146.49 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The business has a 50-day moving average price of $572.29 and a 200 day moving average price of $542.07.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $6.64 EPS. Equities research analysts forecast that Deere & Company will post 18.08 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 given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio is 36.71%.

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.