Deere & Company (NYSE:DE) Shares Bought by Forsta AP Fonden

Forsta AP Fonden grew its holdings in shares of Deere & Company (NYSE:DE) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,100 shares of the industrial products company’s stock after purchasing an additional 1,600 shares during the period. Forsta AP Fonden’s holdings in Deere & Company were worth $28,420,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Deere & Company by 52.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,581 shares of the industrial products company’s stock valued at $21,143,000 after purchasing an additional 17,346 shares during the period. Burford Brothers Inc. bought a new position in Deere & Company during the third quarter valued at about $208,000. Elwood & Goetz Wealth Advisory Group LLC bought a new position in Deere & Company during the third quarter valued at about $431,000. Legacy Wealth Asset Management LLC boosted its stake in Deere & Company by 1.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock valued at $578,000 after buying an additional 26 shares in the last quarter. Finally, Bank of Stockton boosted its stake in Deere & Company by 136.5% during the third quarter. Bank of Stockton now owns 1,414 shares of the industrial products company’s stock valued at $590,000 after buying an additional 816 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.8 %

Shares of DE traded down $3.14 during midday trading on Friday, reaching $407.93. 591,048 shares of the stock were exchanged, compared to its average volume of 1,453,785. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The firm has a 50 day simple moving average of $397.30 and a 200-day simple moving average of $385.56. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $112.41 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the business earned $10.20 EPS. The business’s quarterly revenue was down 20.3% on a year-over-year basis. Research analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DE shares. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Truist Financial raised their target price on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Raymond James initiated coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Finally, Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $420.69.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.