Nordea Investment Management AB Has $157.89 Million Stock Position in Deere & Company $DE

Key Points

• Nordea Investment Management AB increased its stake in Deere & Company by 10.2% during the second quarter, owning approximately 310,351 shares valued at $157.89 million.
• Several institutional investors have also raised their stakes in Deere & Company, contributing to institutional ownership of about 68.58%.
• Deere & Company recently disclosed a quarterly dividend of $1.62 per share, resulting in an annualized dividend yield of 1.4%.

Nordea Investment Management AB increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 310,351 shares of the industrial products company's stock after buying an additional 28,810 shares during the quarter. Nordea Investment Management AB owned about 0.11% of Deere & Company worth $157,894,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Southland Equity Partners LLC raised its stake in shares of Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company's stock worth $271,000 after purchasing an additional 20 shares during the last quarter. Vivid Wealth Management LLC raised its stake in shares of Deere & Company by 1.9% in the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company's stock worth $553,000 after purchasing an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management raised its stake in shares of Deere & Company by 3.0% in the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company's stock worth $344,000 after purchasing an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after purchasing an additional 21 shares during the last quarter. Finally, Tyler Stone Wealth Management raised its stake in shares of Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after purchasing an additional 21 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the subject of several analyst reports. DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Oppenheimer lowered their price objective on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, October 4th. Wolfe Research lowered their price objective on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Finally, Truist Financial increased their price target on Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and a consensus price target of $517.35.

Deere & Company Stock Performance

Shares of DE opened at $458.63 on Friday. 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 company has a market capitalization of $123.98 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.94 and a beta of 1.02. The stock has a 50 day moving average of $473.24 and a 200 day moving average of $487.48. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company earned $6.29 earnings per share. Deere & Company's revenue was down 9.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio 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.

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