BI Asset Management Fondsmaeglerselskab A S Has $8.12 Million Position in Deere & Company $DE

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Deere & Company (NYSE:DE) by 11.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,418 shares of the industrial products company’s stock after purchasing an additional 1,535 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Deere & Company were worth $8,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Strategic Advocates LLC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at about $25,000. Key Capital Management INC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $27,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the third quarter worth $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DE shares. Morgan Stanley raised their target price on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Raymond James Financial decreased their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Barclays lifted their target price on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Wolfe Research increased their price target on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Finally, DA Davidson decreased their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Trading Up 0.2%

Shares of Deere & Company stock opened at $590.37 on Monday. 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 moving average of $573.71 and a 200-day moving average of $553.26. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The stock has a market cap of $159.36 billion, a PE ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period last year, the firm earned $6.64 earnings per share. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

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.