Skandinaviska Enskilda Banken AB publ Buys 1,693 Shares of Deere & Company $DE

Skandinaviska Enskilda Banken AB publ grew its stake in Deere & Company (NYSE:DE) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,326 shares of the industrial products company’s stock after purchasing an additional 1,693 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Deere & Company were worth $25,756,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DE. Vanguard Group Inc. raised its position in Deere & Company by 1.4% in the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after acquiring an additional 309,081 shares during the period. State Street Corp raised its holdings in shares of Deere & Company by 0.6% in the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after acquiring an additional 64,262 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Deere & Company by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares in the last quarter. Norges Bank bought a new position in shares of Deere & Company during the 2nd quarter valued at about $1,578,243,000. Finally, Fisher Asset Management LLC increased its position in shares of Deere & Company by 10.1% during the 2nd quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after purchasing an additional 236,406 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.5%

NYSE:DE opened at $599.90 on Wednesday. The stock has a market cap of $162.61 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 2.40 and a beta of 1.02. The company’s 50 day moving average price is $513.04 and its 200-day moving average price is $488.37. Deere & Company has a 52 week low of $404.42 and a 52 week high of $626.25. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $4.55 EPS. On average, equities research analysts forecast 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 was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is currently 35.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DE. BMO Capital Markets restated a “market perform” rating and set a $460.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Wolfe Research upped their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Morgan Stanley reissued an “overweight” rating and issued a $560.00 target price on shares of Deere & Company in a research note on Tuesday, December 9th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Insider Transactions at Deere & Company

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

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.