DekaBank Deutsche Girozentrale increased its holdings in shares of Deere & Company (NYSE:DE) by 29.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 117,494 shares of the industrial products company’s stock after acquiring an additional 27,064 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Deere & Company were worth $31,176,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Deere & Company during the fourth quarter valued at approximately $1,006,240,000. FMR LLC boosted its stake in Deere & Company by 37.8% during the fourth quarter. FMR LLC now owns 4,701,751 shares of the industrial products company’s stock valued at $1,265,007,000 after buying an additional 1,289,219 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Deere & Company by 62.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,204,272 shares of the industrial products company’s stock valued at $324,010,000 after buying an additional 463,298 shares during the last quarter. AMF Pensionsforsakring AB boosted its stake in Deere & Company by 238.9% during the fourth quarter. AMF Pensionsforsakring AB now owns 606,752 shares of the industrial products company’s stock valued at $163,314,000 after buying an additional 427,694 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. bought a new position in Deere & Company during the fourth quarter valued at approximately $81,361,000. Hedge funds and other institutional investors own 66.77% of the company’s stock.
A number of equities analysts recently commented on the company. Argus increased their price target on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Oppenheimer raised their price objective on Deere & Company from $331.00 to $380.00 and gave the company an “outperform” rating in a research note on Monday, March 1st. Barclays raised their price objective on Deere & Company from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 22nd. Credit Suisse Group raised their price objective on Deere & Company from $343.00 to $403.00 and gave the company an “outperform” rating in a research note on Monday, March 1st. Finally, BMO Capital Markets raised their price objective on Deere & Company from $300.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, January 25th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $320.20.
Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $2.17 by $1.70. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.12 billion. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. Sell-side analysts predict that Deere & Company will post 13.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Shareholders of record on Wednesday, March 31st will be issued a dividend of $0.90 per share. This is an increase from Deere & Company’s previous quarterly dividend of $0.76. This represents a $3.60 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, March 30th. Deere & Company’s dividend payout ratio (DPR) is presently 41.43%.
Deere & Company Company Profile
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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