Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stake in Deere & Company $DE

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Deere & Company (NYSE:DE) by 58.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 61,436 shares of the industrial products company’s stock after acquiring an additional 22,770 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Deere & Company were worth $34,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Brighton Jones LLC raised its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC purchased a new stake in Deere & Company in the 2nd quarter valued at approximately $2,153,000. NewEdge Advisors LLC grew its holdings in Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after buying an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its holdings in Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after buying an additional 97 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DE shares. Truist Financial boosted their price target on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup cut their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Finally, DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company Stock Down 1.0%

Shares of DE opened at $621.09 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company’s fifty day moving average is $577.59 and its two-hundred day moving average is $562.28. The firm has a market cap of $167.66 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $6.64 EPS. Analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

About Deere & Company

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.