Securian Asset Management Inc. Reduces Stock Holdings in Deere & Company (NYSE:DE)

Securian Asset Management Inc. lowered its holdings in shares of Deere & Company (NYSE:DE) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,460 shares of the industrial products company’s stock after selling 219 shares during the quarter. Securian Asset Management Inc.’s holdings in Deere & Company were worth $6,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in Deere & Company in the fourth quarter worth approximately $1,244,094,000. GAMMA Investing LLC increased its stake in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after purchasing an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in Deere & Company in the 4th quarter worth $541,437,000. Price T Rowe Associates Inc. MD raised its holdings in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Finally, FMR LLC lifted its position in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $512.17 on Monday. The firm has a market cap of $138.71 billion, a PE ratio of 24.78, a PEG ratio of 3.25 and a beta of 1.08. The stock has a 50 day moving average of $510.73 and a 200 day moving average of $478.69. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm earned $8.53 EPS. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

Analyst Ratings Changes

A number of research analysts recently issued reports on DE shares. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Barclays lifted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Truist Financial lifted their target price on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Finally, DA Davidson reiterated a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $515.19.

About Deere & Company

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.