KBC Group NV Boosts Holdings in Deere & Company $DE

KBC Group NV raised its stake in shares of Deere & Company (NYSE:DEFree Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,524 shares of the industrial products company’s stock after purchasing an additional 1,013 shares during the period. KBC Group NV’s holdings in Deere & Company were worth $45,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bouchey Financial Group Ltd lifted its holdings in Deere & Company by 4.4% during the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 21 shares in the last quarter. Silvant Capital Management LLC lifted its holdings in Deere & Company by 0.5% during the third quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock valued at $2,034,000 after purchasing an additional 21 shares in the last quarter. Blue Chip Partners LLC lifted its holdings in Deere & Company by 1.4% during the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock valued at $801,000 after purchasing an additional 21 shares in the last quarter. Forefront Wealth Partners LLC lifted its holdings in Deere & Company by 4.1% during the third quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 22 shares in the last quarter. Finally, Romano Brothers AND Company lifted its holdings in Deere & Company by 0.3% during the fourth quarter. Romano Brothers AND Company now owns 7,936 shares of the industrial products company’s stock valued at $3,695,000 after purchasing an additional 22 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Key Deere & Company News

Here are the key news stories impacting Deere & Company this week:

Deere & Company Stock Performance

NYSE:DE opened at $584.03 on Friday. The company’s 50-day moving average price is $594.97 and its 200-day moving average price is $520.42. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The company has a market cap of $157.75 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.02 and a beta of 0.98. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 36.53%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $765.00 price objective on shares of Deere & Company in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. UBS Group increased their price objective on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Truist Financial increased their price objective on shares of Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, Morgan Stanley increased their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $655.45.

Check Out Our Latest Research Report on DE

About Deere & Company

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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