Deere & Company $DE Stock Sold by Formuepleje A S

Formuepleje A S lowered its stake in Deere & Company (NYSE:DE) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,316 shares of the industrial products company’s stock after selling 1,015 shares during the period. Formuepleje A S’s holdings in Deere & Company were worth $2,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. BlackRock Inc. bought a new stake in Deere & Company in the second quarter valued at approximately $11,763,504,000. Bank of America Corp DE purchased a new stake in shares of Deere & Company during the second quarter valued at approximately $1,685,093,000. Bank of New York Mellon Corp bought a new position in shares of Deere & Company in the second quarter worth approximately $1,259,279,000. Legal & General Group Plc bought a new position in shares of Deere & Company in the second quarter worth approximately $957,456,000. Finally, Wellington Management Group LLP grew its holdings in shares of Deere & Company by 84.3% in the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock worth $1,959,209,000 after purchasing an additional 1,412,694 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DE. Bank of America upped their price target on shares of Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Raymond James Financial raised their price target on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Evercore raised shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price objective for the company in a research note on Wednesday, September 2nd. Finally, Barclays upped their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Trading Up 0.5%

Shares of DE traded up $3.14 during mid-day trading on Thursday, hitting $653.52. 543,898 shares of the company’s stock traded hands, compared to its average volume of 1,362,938. 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 firm has a market capitalization of $176.20 billion, a P/E ratio of 36.31, a PEG ratio of 2.38 and a beta of 0.86. The business’s 50-day moving average price is $656.93 and its 200-day moving average price is $611.03. Deere & Company has a 1 year low of $445.55 and a 1 year high of $721.22.

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

Deere & Company Dividend Announcement

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 $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio is 36.00%.

About Deere & Company

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.