Deere & Company $DE Position Lessened by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in Deere & Company by 3.3%, holding 85,229 shares valued at approximately $40 million as of the latest reporting period.
• Analysts have adjusted their price targets for Deere & Company, with Bank of America raising it to $556.00, while the consensus rating remains a "Moderate Buy" with an average target of $523.87.
• Deere & Company announced a quarterly dividend of $1.62 per share, representing an annual yield of 1.3%, which reflects a dividend payout ratio of 33.87%.

Lansforsakringar Fondforvaltning AB publ lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,229 shares of the industrial products company's stock after selling 2,928 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Deere & Company were worth $40,002,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its stake in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after acquiring an additional 21 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after acquiring an additional 21 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after acquiring an additional 22 shares during the last quarter. First Bancorp Inc ME boosted its stake in shares of Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after acquiring an additional 23 shares during the last quarter. Finally, Leisure Capital Management boosted its stake in shares of Deere & Company by 0.8% during the first quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock valued at $1,355,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DE. Barclays increased their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. Truist Financial lowered their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of "Moderate Buy" and an average price target of $523.87.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $12.76 during trading on Friday, hitting $478.68. 1,534,087 shares of the company traded hands, compared to its average volume of 1,456,507. The stock has a market capitalization of $129.64 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 3.07 and a beta of 1.06. The business's fifty day moving average is $505.03 and its 200-day moving average is $491.21. Deere & Company has a one year low of $376.95 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.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the business posted $6.29 EPS. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued 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 33.87%.

Deere & Company Profile

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.