BI Asset Management Fondsmaeglerselskab A S Has $11.69 Million Stake in Deere & Company $DE

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Deere & Company by 10.5%, acquiring a total of 24,899 shares worth approximately $11.7 million.
• Deere & Company reported a quarterly EPS of $4.75, exceeding analysts' expectations, but its revenue showed a year-over-year decline of 9% at $10.36 billion.
• The firm recently announced a quarterly dividend of $1.62 per share, resulting in an annualized yield of 1.3% and a payout ratio of 33.87%.

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 10.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,899 shares of the industrial products company's stock after purchasing an additional 2,368 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Deere & Company were worth $11,686,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in Deere & Company in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC grew its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company during the 4th quarter worth approximately $39,000. Finally, Dogwood Wealth Management LLC bought a new position in Deere & Company during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DE shares. Citigroup reduced their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Raymond James Financial boosted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Finally, Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold 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 target price of $523.87.

Deere & Company Price Performance

Shares of DE stock traded up $8.3320 on Friday, reaching $495.0920. The company had a trading volume of 1,133,367 shares, compared to its average volume of 1,461,202. The business's 50-day moving average is $508.58 and its 200 day moving average is $490.43. Deere & Company has a one year low of $374.46 and a one year high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $134.09 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 3.11 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the firm posted $6.29 earnings per share. The firm's revenue was down 9.0% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company's dividend payout ratio is currently 33.87%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.