Deere & Company (NYSE:DE) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Deere & Company (NYSE:DE) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,052 shares of the industrial products company’s stock after purchasing an additional 1,823 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Deere & Company were worth $4,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DE. True Wealth Design LLC lifted its holdings in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in Deere & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. purchased a new stake in Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC purchased a new stake in Deere & Company during the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DE. Oppenheimer reissued an “outperform” rating and issued a $456.00 target price on shares of Deere & Company in a research report on Thursday, May 16th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Finally, Stifel Nicolaus upped their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $427.66.

Deere & Company Stock Performance

Shares of DE stock traded down $0.79 during trading hours on Wednesday, reaching $348.05. 375,109 shares of the company’s stock were exchanged, compared to its average volume of 1,505,432. The company has a market cap of $95.91 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93. The company’s 50 day moving average is $380.20 and its two-hundred day moving average is $385.79. Deere & Company has a 1 year low of $345.93 and a 1 year high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $9.65 EPS. Equities research analysts anticipate that Deere & Company will post 25.56 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.