DNB Asset Management AS lifted its position in shares of Deere & Company (NYSE:DE) by 10.3% during the second quarter, Holdings Channel.com reports. The firm owned 66,861 shares of the industrial products company’s stock after buying an additional 6,268 shares during the quarter. DNB Asset Management AS’s holdings in Deere & Company were worth $10,507,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Advisory Group Advisory Services LLC bought a new position in Deere & Company during the 1st quarter worth $28,000. Danda Trouve Investment Management Inc. bought a new position in Deere & Company during the 4th quarter worth $35,000. MBE Wealth Management LLC bought a new position in Deere & Company during the 1st quarter worth $35,000. Wealth Quarterback LLC bought a new position in Deere & Company during the 4th quarter worth $38,000. Finally, Vectors Research Management LLC bought a new position in Deere & Company during the 1st quarter worth $53,000. Institutional investors own 66.88% of the company’s stock.
DE has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Deere & Company from $171.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Deutsche Bank upgraded Deere & Company to a “buy” rating and set a $186.00 price target on the stock in a research note on Tuesday, June 30th. Wells Fargo & Co decreased their price target on Deere & Company from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Citigroup lifted their price target on Deere & Company from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Finally, Goldman Sachs Group decreased their price target on Deere & Company from $208.00 to $182.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $169.70.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, May 22nd. The industrial products company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.49. Deere & Company had a return on equity of 23.01% and a net margin of 7.62%. The company had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $7.68 billion. During the same quarter last year, the business posted $3.52 EPS. Deere & Company’s revenue for the quarter was down 19.9% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 6.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.92%. The ex-dividend date is Monday, June 29th. Deere & Company’s payout ratio is presently 30.58%.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.