Handelsbanken Fonder AB cut its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,547 shares of the industrial products company's stock after selling 2,572 shares during the quarter. Handelsbanken Fonder AB's holdings in Deere & Company were worth $42,968,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Capital World Investors raised its stake in shares of Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after buying an additional 157,224 shares in the last quarter. FMR LLC lifted its holdings in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Geode Capital Management LLC boosted its position in shares of Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after acquiring an additional 97,203 shares in the last quarter. Finally, Norges Bank bought a new stake in Deere & Company in the fourth quarter valued at about $1,244,094,000. 68.58% of the stock is currently owned by institutional investors.
Deere & Company Trading Down 1.2%
Shares of DE traded down $6.27 during trading hours on Tuesday, hitting $515.42. 1,294,039 shares of the stock traded hands, compared to its average volume of 1,396,380. The business has a fifty day moving average of $480.22 and a 200-day moving average of $467.10. The firm has a market capitalization of $139.59 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.
Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the prior year, the company posted $8.53 EPS. The company's revenue was down 17.9% compared to the same quarter last year. Analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.
Analysts Set New Price Targets
DE has been the topic of several analyst reports. Robert W. Baird upped their price objective on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. Oppenheimer lifted their price objective on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Truist Financial upped their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $515.19.
Check Out Our Latest Analysis on DE
Deere & Company Company Profile
(
Free Report)
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.
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