Swedbank AB Has $115.59 Million Holdings in Deere & Company $DE

Key Points

• Swedbank AB reduced its stake in Deere by 15.7%, selling 46,098 shares and leaving it with 248,279 shares valued at $115.59 million.
• Deere beat expectations in the latest quarter with EPS $2.42 vs $1.90 and revenue of $9.61 billion, a 17.5% year-over-year increase.
• The company announced a quarterly dividend of $1.62 (annualized $6.48) for a yield of about 1.1%, with an ex-dividend date of March 31 and payment on May 8.

Swedbank AB lessened its position in shares of Deere & Company (NYSE:DE - Free Report) by 15.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 248,279 shares of the industrial products company's stock after selling 46,098 shares during the period. Swedbank AB owned 0.09% of Deere & Company worth $115,591,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock worth $10,514,053,000 after acquiring an additional 198,332 shares in the last quarter. Capital World Investors grew its stake in Deere & Company by 5.5% during the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company's stock worth $2,850,687,000 after purchasing an additional 322,582 shares during the period. Fisher Asset Management LLC grew its stake in Deere & Company by 5.5% during the third quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company's stock worth $1,244,670,000 after purchasing an additional 141,790 shares during the period. M&T Bank Corp increased its holdings in Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock worth $868,149,000 after purchasing an additional 1,721,239 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Deere & Company by 21.7% in the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company's stock valued at $829,930,000 after buying an additional 323,512 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 3.0%

Shares of NYSE DE opened at $592.84 on Thursday. The stock has a market capitalization of $160.13 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.01 and a beta of 0.96. The company has a 50-day moving average price of $587.56 and a 200-day moving average price of $531.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company's payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DE shares. Citigroup cut their price target on Deere & Company from $675.00 to $625.00 and set a "neutral" rating on the stock in a report on Monday, March 9th. DA Davidson boosted their target price on shares of Deere & Company from $580.00 to $775.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Morgan Stanley increased their target price on shares of Deere & Company from $560.00 to $730.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. Finally, Wolfe Research lifted their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research note on Tuesday, March 31st. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $655.45.

Deere & 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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