Deere & Company (NYSE:DE) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in Deere & Company (NYSE:DE) by 765.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 209,616 shares of the industrial products company’s stock after purchasing an additional 185,395 shares during the quarter. Nordea Investment Management AB owned 0.08% of Deere & Company worth $88,969,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in DE. Victory Capital Management Inc. increased its holdings in Deere & Company by 5.8% in the second quarter. Victory Capital Management Inc. now owns 97,541 shares of the industrial products company’s stock valued at $36,444,000 after buying an additional 5,353 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Deere & Company by 324.4% in the 2nd quarter. Acadian Asset Management LLC now owns 8,909 shares of the industrial products company’s stock valued at $3,328,000 after purchasing an additional 6,810 shares in the last quarter. Clifford Swan Investment Counsel LLC raised its holdings in Deere & Company by 2.0% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 6,018 shares of the industrial products company’s stock worth $2,249,000 after purchasing an additional 117 shares during the period. LGT Group Foundation boosted its position in Deere & Company by 230.2% during the second quarter. LGT Group Foundation now owns 928 shares of the industrial products company’s stock worth $347,000 after purchasing an additional 647 shares in the last quarter. Finally, LGT Fund Management Co Ltd. purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $584,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.1 %

Shares of NYSE DE opened at $413.24 on Wednesday. The company has a market capitalization of $112.23 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.91 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a 50 day simple moving average of $427.63 and a 200-day simple moving average of $399.34. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.26 earnings per share. On average, equities research analysts predict that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $443.94.

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.