Deere & Company $DE Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Deere & Company (NYSE:DE) by 50.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,883 shares of the industrial products company’s stock after selling 12,963 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Deere & Company were worth $5,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Cary Street Partners Financial LLC boosted its position in shares of Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its position 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 valued at $39,737,000 after acquiring an additional 30,553 shares in the last quarter. Compagnie Lombard Odier SCmA raised its stake in Deere & Company by 66.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after purchasing an additional 10,974 shares during the period. Westpac Banking Corp raised its stake in Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after purchasing an additional 3,047 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Deere & Company by 14.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock worth $9,682,000 after purchasing an additional 2,702 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE stock opened at $583.80 on Monday. The firm has a market cap of $157.59 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.16 and a beta of 0.92. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm has a 50-day simple moving average of $572.86 and a two-hundred day simple moving average of $546.09.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the firm posted $6.64 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 18.08 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.

Analysts Set New Price Targets

DE has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wells Fargo & Company boosted their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Raymond James Financial reduced their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a report on Wednesday, April 8th. Finally, DA Davidson lowered their target price on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

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.