1,033 Shares in Deere & Company $DE Purchased by Oslo Pensjonsforsikring AS

Oslo Pensjonsforsikring AS bought a new position in shares of Deere & Company (NYSE:DE) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,033 shares of the industrial products company’s stock, valued at approximately $582,000.

A number of other institutional investors have also added to or reduced their stakes in DE. Portus Wealth Advisors LLC purchased a new position in Deere & Company during the first quarter valued at approximately $32,000. Key Capital Management INC bought a new position in Deere & Company in the fourth quarter worth approximately $27,000. Timmons Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter worth $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company during the fourth quarter worth $30,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Deere & Company in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. DA Davidson restated a “buy” rating and set a $685.00 price objective on shares of Deere & Company in a research note on Friday, July 17th. Truist Financial boosted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Oppenheimer reissued an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, Robert W. Baird cut their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Stock Up 0.4%

Deere & Company stock opened at $588.06 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market capitalization of $158.74 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.15 and a beta of 0.89. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business has a fifty day moving average price of $582.48 and a 200-day moving average price of $573.70.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $6.64 EPS. Equities research analysts forecast that Deere & Company will post 18.27 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

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.