Handelsbanken Fonder AB Grows Position in Deere & Company $DE

Key Points

• Handelsbanken Fonder AB increased its Deere & Company stake by 20.5% in the fourth quarter, buying an additional 22,741 shares and bringing its total to 133,815 shares valued at about $62.3 million.
• Deere posted stronger-than-expected quarterly results, reporting EPS of $2.42 versus the $1.90 estimate and revenue of $9.61 billion, up 17.5% year over year.
• Analysts remain cautious but generally positive on DE, with a consensus “Moderate Buy” rating and average price target of $655.45, while the stock recently traded around $564.61 and also paid a quarterly dividend of $1.62 per share.

Handelsbanken Fonder AB boosted its stake in Deere & Company (NYSE:DE - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,815 shares of the industrial products company's stock after purchasing an additional 22,741 shares during the quarter. Handelsbanken Fonder AB's holdings in Deere & Company were worth $62,300,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Strategic Advocates LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $25,000. Key Capital Management INC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $27,000. Activest Wealth Management grew its holdings in Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 27 shares during the period. McIlrath & Eck LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in Deere & Company in the third quarter valued at approximately $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.5%

Shares of NYSE:DE opened at $564.61 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The company has a fifty day simple moving average of $580.45 and a 200 day simple moving average of $538.11. The firm has a market cap of $152.51 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. The business had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 18.01 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, March 31st. Deere & Company's payout ratio is 36.53%.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Analysts remain moderately optimistic about Deere & Company (DE) even though the stock has underperformed the broader market over the past year, suggesting some investors still see upside if execution improves. What Are Wall Street Analysts' Target Price for Deere & Company Stock?
• Neutral Sentiment: Wall Street’s key-metric previews ahead of Deere’s Q2 report suggest investors are focusing on operating trends such as demand, margins, and equipment sales to gauge whether the quarter came in better or worse than expected. Wall Street's Insights Into Key Metrics Ahead of Deere (DE) Q2 Earnings
• Neutral Sentiment: Deere is expected to report Q2 earnings soon, and investors are watching for whether higher revenue can offset weaker farm spending and rising costs; consensus calls for earnings to fall about 12.5% year over year. Deere Gears Up to Report Q2 Earnings: What to Expect for the Stock?
• Negative Sentiment: A new lawsuit accusing Deere & Company (DE) of blocking right-to-repair access for construction equipment adds another legal and reputational overhang for the company. Deere Hit With New Lawsuit, This One for Construction Equipment Right to Repair
• Negative Sentiment: Comparisons with Caterpillar highlighted Deere’s weaker earnings growth and revenue momentum relative to CAT, which may pressure investor sentiment toward DE heading into earnings. Caterpillar vs. Deere: Which Heavy Equipment Stock is the Better Buy?

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $765.00 price target on shares of Deere & Company in a research report on Monday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $525.00 to $550.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Sanford C. Bernstein lifted their price target on shares of Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $715.00 price target on shares of Deere & Company in a research report on Friday, February 20th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $655.45.

Deere & Company 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.

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