Varma Mutual Pension Insurance Co Increases Stock Holdings in Deere & Company $DE

Key Points

• Varma Mutual Pension Insurance Co increased its stake in Deere & Company by 8.8% in Q4 to 46,567 shares, worth $21.68 million.
• Strong quarterly results: Deere reported $2.42 EPS vs. $1.90 expected and $9.61B revenue vs. $7.50B expected, spurring multiple analyst price-target increases and a consensus "Moderate Buy" with an average target of $655.45.
• Dividend announced: Deere declared a $1.62 quarterly dividend ($6.48 annualized) with an ex-dividend date of March 31 and payment on May 8, implying a ~1.1% yield.

Varma Mutual Pension Insurance Co increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,567 shares of the industrial products company's stock after buying an additional 3,760 shares during the quarter. Varma Mutual Pension Insurance Co's holdings in Deere & Company were worth $21,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new stake in Deere & Company during the 3rd quarter worth about $25,000. Key Capital Management INC acquired a new stake in Deere & Company during the 4th quarter worth about $27,000. Activest Wealth Management lifted its position in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock worth $30,000 after acquiring an additional 27 shares during the period. Wealth Watch Advisors INC acquired a new stake in Deere & Company during the 3rd quarter worth about $32,000. Finally, High Point Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $41,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Argus lifted their price target on Deere & Company from $540.00 to $700.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Raymond James Financial reaffirmed an "outperform" rating and set a $765.00 price target on shares of Deere & Company in a research report on Monday, February 23rd. BMO Capital Markets lifted their price target on Deere & Company from $460.00 to $500.00 and gave the stock a "market perform" rating in a research report on Friday, February 20th. Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Finally, Sanford C. Bernstein boosted their price objective on Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $655.45.

Deere & Company Stock Performance

Shares of DE stock opened at $578.26 on Monday. The stock has a market cap of $156.19 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The business has a 50-day simple moving average of $590.37 and a 200-day simple moving average of $530.04. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

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

Deere & Company Dividend Announcement

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

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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