Mandatum Life Insurance Co Ltd Decreases Stock Position in Deere & Company (NYSE:DE)

Mandatum Life Insurance Co Ltd lessened its stake in shares of Deere & Company (NYSE:DE) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,756 shares of the industrial products company’s stock after selling 182 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in Deere & Company were worth $1,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hughes Financial Services LLC bought a new stake in Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company in the fourth quarter worth about $39,000. Finally, Citizens National Bank Trust Department purchased a new position in shares of Deere & Company in the first quarter worth about $45,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.5%

Shares of Deere & Company stock traded up $2.47 during trading hours on Friday, hitting $501.61. The company’s stock had a trading volume of 173,278 shares, compared to its average volume of 1,340,742. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The firm has a fifty day moving average of $512.70 and a 200-day moving average of $480.12. The stock has a market cap of $135.85 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 3.22 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.53 EPS. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.29%. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DE. UBS Group reduced their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Oppenheimer set a $560.00 price objective on Deere & Company and gave the company an “outperform” rating in a research report on Tuesday. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $515.50.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.