Oslo Pensjonsforsikring AS Purchases New Position in Deere & Company $DE

Oslo Pensjonsforsikring AS purchased a new position in Deere & Company (NYSE:DE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,033 shares of the industrial products company’s stock, valued at approximately $582,000.

Other large investors also recently added to or reduced their stakes in the company. Mathes Company Inc. lifted its position in Deere & Company by 2.2% in the first quarter. Mathes Company Inc. now owns 10,382 shares of the industrial products company’s stock worth $5,848,000 after buying an additional 225 shares during the last quarter. DJE Kapital AG raised its stake in shares of Deere & Company by 4,344.4% in the first quarter. DJE Kapital AG now owns 31,111 shares of the industrial products company’s stock valued at $17,347,000 after acquiring an additional 30,411 shares during the period. Andra AP fonden lifted its holdings in shares of Deere & Company by 120.3% in the 1st quarter. Andra AP fonden now owns 30,803 shares of the industrial products company’s stock worth $17,351,000 after acquiring an additional 16,823 shares during the last quarter. Wilkerson Advisory Group LLC lifted its holdings in shares of Deere & Company by 0.7% in the 1st quarter. Wilkerson Advisory Group LLC now owns 3,480 shares of the industrial products company’s stock worth $1,960,000 after acquiring an additional 24 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd boosted its stake in shares of Deere & Company by 21.4% during the 1st quarter. Dale Q Rice Investment Management Ltd now owns 1,134 shares of the industrial products company’s stock worth $639,000 after purchasing an additional 200 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 0.4%

Shares of DE opened at $588.06 on Wednesday. The firm has a market capitalization of $158.74 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.15 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a 50-day moving average of $582.48 and a 200 day moving average of $573.70.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.64 EPS. On average, research analysts expect that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Ratings Changes

Several equities analysts recently commented on DE shares. Citigroup upped their price target on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Truist Financial raised their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a research note on Wednesday, April 8th. Finally, Robert W. Baird reduced their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $642.98.

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.