Deere & Company (NYSE:DE) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS grew its position in Deere & Company (NYSE:DE) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 109,560 shares of the industrial products company’s stock after buying an additional 2,770 shares during the period. DnB Asset Management AS’s holdings in Deere & Company were worth $46,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in DE. Norges Bank bought a new stake in Deere & Company during the 4th quarter valued at $1,244,094,000. Wellington Management Group LLP increased its holdings in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Deere & Company during the fourth quarter valued at about $296,232,000. Stockbridge Partners LLC lifted its holdings in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in Deere & Company by 52,200.3% in the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after purchasing an additional 529,833 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.8 %

Shares of Deere & Company stock opened at $479.69 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The stock has a 50-day moving average price of $477.11 and a 200 day moving average price of $438.85. The company has a market cap of $130.19 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Citigroup boosted their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $460.00.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

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.