Swedbank AB Sells 46,098 Shares of Deere & Company $DE

Swedbank AB reduced its stake in Deere & Company (NYSE:DE) by 15.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 248,279 shares of the industrial products company’s stock after selling 46,098 shares during the quarter. Swedbank AB’s holdings in Deere & Company were worth $115,591,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Strategic Advocates LLC purchased a new stake in shares of Deere & Company in the third quarter valued at about $25,000. Key Capital Management INC purchased a new position in Deere & Company during the fourth quarter worth about $27,000. Activest Wealth Management grew its position in Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares in the last quarter. McIlrath & Eck LLC bought a new stake in Deere & Company in the 4th quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in Deere & Company in the 3rd quarter valued at about $32,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 3.0%

Shares of NYSE DE opened at $592.84 on Thursday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $160.13 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.01 and a beta of 0.96. The business has a 50-day moving average of $587.56 and a 200-day moving average of $531.89.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same period last year, the firm posted $3.19 earnings per share. Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 18.01 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be given a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is 36.53%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial lifted their target price on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Bank of America increased their price target on Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Citigroup dropped their price target on Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a report on Monday, March 9th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Finally, Wolfe Research upped their price objective on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $655.45.

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.