KLP Kapitalforvaltning AS Has $81.34 Million Stock Position in Deere & Company $DE

Key Points

• KLP Kapitalforvaltning AS increased its stake in Deere & Company to approximately $81.34 million, owning 159,529 shares after adding 2,200 shares in Q2.
• Deere & Company reported $4.75 EPS for the last quarter, surpassing expectations and showing a year-over-year revenue decline of 9%.
• The company announced a quarterly dividend of $1.62, payable on November 10th, with a dividend yield of 1.4% and a payout ratio of 33.87%.

KLP Kapitalforvaltning AS boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 159,529 shares of the industrial products company's stock after buying an additional 2,200 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.06% of Deere & Company worth $81,339,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DE. Activest Wealth Management raised its holdings in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC grew its stake 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 acquiring an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE:DE opened at $457.47 on Tuesday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a fifty day simple moving average of $483.57 and a 200 day simple moving average of $489.14. The stock has a market capitalization of $123.67 billion, a PE ratio of 23.91, a P/E/G ratio of 2.98 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the business earned $6.29 earnings per share. The firm's revenue was down 9.0% on a year-over-year basis. On average, research analysts expect 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 will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DE shares. Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Deere & Company in a research note on Saturday, September 27th. Daiwa Capital Markets decreased their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. Finally, Robert W. Baird decreased their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $518.18.

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.

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