DNB Asset Management AS Sells 1,076 Shares of Deere & Company (NYSE:DE)

DNB Asset Management AS trimmed its stake in Deere & Company (NYSE:DE – Get Rating) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,036 shares of the industrial products company’s stock after selling 1,076 shares during the quarter. DNB Asset Management AS’s holdings in Deere & Company were worth $54,468,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its holdings in shares of Deere & Company by 13.5% during the second quarter. Cetera Investment Advisers now owns 19,222 shares of the industrial products company’s stock valued at $5,756,000 after purchasing an additional 2,291 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Deere & Company by 17.5% during the third quarter. California Public Employees Retirement System now owns 633,261 shares of the industrial products company’s stock valued at $211,440,000 after purchasing an additional 94,311 shares in the last quarter. Mutual Advisors LLC lifted its holdings in shares of Deere & Company by 9.3% during the third quarter. Mutual Advisors LLC now owns 3,824 shares of the industrial products company’s stock valued at $1,277,000 after purchasing an additional 324 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Deere & Company during the third quarter valued at $374,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Deere & Company by 7.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 56,260 shares of the industrial products company’s stock valued at $18,784,000 after purchasing an additional 4,128 shares in the last quarter. 75.72% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE traded down $5.61 during trading on Friday, hitting $385.50. 3,124,604 shares of the company’s stock were exchanged, compared to its average volume of 1,565,636. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.07 and a quick ratio of 1.76. Deere & Company has a 52-week low of $283.81 and a 52-week high of $448.40. The business’s 50-day simple moving average is $417.58 and its 200 day simple moving average is $403.13. The company has a market cap of $114.23 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.04 and a beta of 1.05.

Deere & Company (NYSE:DE – Get Rating) last released its earnings results on Friday, February 17th. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $1.02. Deere & Company had a return on equity of 41.17% and a net margin of 14.71%. The firm had revenue of $11.40 billion during the quarter, compared to analysts’ expectations of $11.14 billion. During the same quarter last year, the business posted $2.92 earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, equities analysts predict that Deere & Company will post 30.58 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Friday, March 31st will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, March 30th. This represents a $5.00 annualized dividend and a dividend yield of 1.30%. This is a boost from Deere & Company’s previous quarterly dividend of $1.20. Deere & Company’s dividend payout ratio (DPR) is currently 17.80%.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Deere & Company from $485.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, February 20th. BMO Capital Markets increased their target price on Deere & Company from $375.00 to $450.00 and gave the company a “market perform” rating in a report on Monday, November 28th. Oppenheimer increased their target price on Deere & Company from $415.00 to $492.00 in a report on Wednesday, November 23rd. UBS Group increased their target price on Deere & Company from $374.00 to $452.00 and gave the company a “neutral” rating in a report on Friday, November 25th. Finally, Stifel Nicolaus increased their target price on Deere & Company from $475.00 to $477.00 and gave the company a “buy” rating in a report on Monday, December 19th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $460.81.

Deere & Company Profile

(Get Rating)

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.