Livforsakringsbolaget Skandia Omsesidigt Invests $1.02 Million in Deere & Company $DE

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Deere & Company (NYSE:DE) in the second quarter, according to its most recent filing with the SEC. The fund purchased 1,608 shares of the industrial products company’s stock, valued at approximately $1,022,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Financial LLC lifted its position in shares of Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after buying an additional 1,086 shares during the last quarter. Baxter Bros Inc. bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $1,707,000. Global Retirement Partners LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $3,890,000. Westpac Banking Corp raised its stake in Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after acquiring an additional 3,047 shares during the period. Finally, TRB Wealth Management LLC acquired a new stake in Deere & Company during the second quarter worth about $623,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of NYSE DE opened at $630.66 on Friday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a market cap of $170.24 billion, a P/E ratio of 35.04, a PEG ratio of 2.60 and a beta of 0.90. The stock has a fifty day moving average price of $611.59 and a two-hundred day moving average price of $593.34. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.75 EPS. Research analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s payout ratio is 36.00%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Seaport Research Partners set a $570.00 target price on Deere & Company in a research note on Friday, August 14th. JPMorgan Chase & Co. increased their price target on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Truist Financial reduced their price objective on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research report on Monday, August 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $653.48.

About Deere & Company

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.