DNB Asset Management AS Increases Stock Holdings in Deere & Company $DE

DNB Asset Management AS increased its holdings in shares of Deere & Company (NYSE:DE) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,298 shares of the industrial products company’s stock after buying an additional 18,690 shares during the quarter. DNB Asset Management AS’s holdings in Deere & Company were worth $55,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Brighton Jones LLC grew its stake in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 150 shares during the last quarter. Jump Financial LLC purchased a new stake in Deere & Company during the 2nd quarter valued at about $2,153,000. NewEdge Advisors LLC grew its stake 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 purchasing an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its stake 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 purchasing an additional 97 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DE shares. Wells Fargo & Company boosted their price target on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Truist Financial boosted their price target on Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Barclays boosted their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, Oppenheimer reiterated an “outperform” rating and set a $715.00 price target on shares of Deere & Company in a research note on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Stock Performance

Shares of DE stock opened at $562.12 on Friday. The stock has a market cap of $151.83 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The business has a 50-day simple moving average of $580.96 and a 200-day simple moving average of $537.02. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

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

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. Deere & Company’s dividend payout ratio is presently 36.53%.

Deere & 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.