Livforsakringsbolaget Skandia Omsesidigt Invests $1.02 Million in Deere & Company $DE

Livforsakringsbolaget Skandia Omsesidigt bought a new position in Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,608 shares of the industrial products company’s stock, valued at approximately $1,022,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Cary Street Partners Financial LLC increased its holdings in Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares in the last quarter. Baxter Bros Inc. acquired a new position in shares of Deere & Company during the second quarter worth about $1,707,000. Global Retirement Partners LLC purchased a new stake in shares of Deere & Company in the second quarter worth about $3,890,000. Westpac Banking Corp boosted its position in shares of Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after buying an additional 3,047 shares during the period. Finally, TRB Wealth Management LLC acquired a new stake in shares of Deere & Company in the second quarter valued at about $623,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. DA Davidson increased their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. UBS Group reduced their target price on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, August 24th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $653.48.

Deere & Company Stock Performance

Shares of DE opened at $630.66 on Friday. The firm has a market cap of $170.24 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.60 and a beta of 0.90. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The business’s 50 day moving average is $611.59 and its two-hundred day moving average is $593.34. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.75 earnings per share. Analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Deere & Company 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.