BI Asset Management Fondsmaeglerselskab A S Has $11.82 Million Stock Holdings in Deere & Company $DE

BI Asset Management Fondsmaeglerselskab A S increased its position in Deere & Company (NYSE:DEFree Report) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,846 shares of the industrial products company’s stock after purchasing an additional 1,895 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Deere & Company were worth $11,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Deere & Company during the second quarter worth approximately $25,000. Howard Hughes Medical Institute acquired a new stake in Deere & Company during the 2nd quarter worth $27,000. Activest Wealth Management raised its position in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 27 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in shares of Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares during the period. Finally, Soundwatch Capital LLC bought a new position in shares of Deere & Company in the 2nd quarter worth $41,000. 68.58% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,578 shares of company stock worth $32,471,682 in the last three months. Company insiders own 0.29% of the company’s stock.

Key Headlines Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Truist Financial lifted their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research note on Friday, November 28th. Robert W. Baird lowered their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, DA Davidson reiterated a “buy” rating and issued a $580.00 target price on shares of Deere & Company in a report on Monday, December 1st. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $524.20.

Read Our Latest Stock Analysis on Deere & Company

Deere & Company Stock Performance

Shares of DE stock opened at $565.95 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 52 week low of $404.42 and a 52 week high of $574.94. The company’s 50 day moving average price is $492.88 and its two-hundred day moving average price is $483.86. The company has a market capitalization of $153.41 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the company earned $4.55 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Deere & Company Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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