Avanza Fonder AB Makes New $11.13 Million Investment in Deere & Company (NYSE:DE)

Avanza Fonder AB bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 26,273 shares of the industrial products company's stock, valued at approximately $11,132,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Everpar Advisors LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $207,000. Border to Coast Pensions Partnership Ltd increased its position in shares of Deere & Company by 5.2% during the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 103,510 shares of the industrial products company's stock valued at $43,828,000 after purchasing an additional 5,110 shares during the period. First Pacific Financial raised its position in Deere & Company by 648.2% in the fourth quarter. First Pacific Financial now owns 1,055 shares of the industrial products company's stock worth $447,000 after acquiring an additional 914 shares in the last quarter. JGP Wealth Management LLC lifted its holdings in Deere & Company by 4.8% in the 4th quarter. JGP Wealth Management LLC now owns 3,158 shares of the industrial products company's stock valued at $1,338,000 after acquiring an additional 146 shares during the last quarter. Finally, Ritholtz Wealth Management raised its holdings in shares of Deere & Company by 17.5% in the 4th quarter. Ritholtz Wealth Management now owns 3,419 shares of the industrial products company's stock worth $1,449,000 after purchasing an additional 510 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 4.0 %

Shares of NYSE:DE traded up $17.46 during midday trading on Friday, hitting $456.57. 2,315,484 shares of the stock were exchanged, compared to its average volume of 906,286. The company has a market capitalization of $124.00 billion, a PE ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The business's fifty day simple moving average is $431.48 and its two-hundred day simple moving average is $401.99.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the company earned $8.26 EPS. The firm's revenue was down 32.8% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. Deere & Company's dividend payout ratio is 25.31%.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Jefferies Financial Group lowered shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a "neutral" rating for the company in a report on Tuesday. Oppenheimer lifted their price target on Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Finally, Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $442.83.

Deere & Company Profile

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.