Avanza Fonder AB Makes New $11.13 Million Investment in Deere & Company (NYSE:DE)

Avanza Fonder AB acquired a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 26,273 shares of the industrial products company’s stock, valued at approximately $11,132,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mattern Wealth Management LLC raised its position in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares in the last quarter. Carret Asset Management LLC raised its holdings in shares of Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares in the last quarter. Round Rock Advisors LLC grew its position in Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 25 shares during the last quarter. Douglas Lane & Associates LLC raised its stake in shares of Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 25 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its holdings in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

DE opened at $443.77 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market cap of $120.52 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The stock has a fifty day simple moving average of $429.66 and a two-hundred day simple moving average of $401.06. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the firm posted $8.26 EPS. Research analysts predict that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Ratings Changes

Several research firms recently commented on DE. Oppenheimer increased their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Barclays boosted their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Citigroup reduced their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $442.83.

Deere & Company 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.