DnB Asset Management AS Buys 2,770 Shares of Deere & Company (NYSE:DE)

DnB Asset Management AS boosted its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,560 shares of the industrial products company's stock after acquiring an additional 2,770 shares during the period. DnB Asset Management AS's holdings in Deere & Company were worth $46,421,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DE. Everence Capital Management Inc. raised its position in shares of Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock valued at $5,179,000 after buying an additional 7,300 shares during the last quarter. Stockbridge Partners LLC boosted its position in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Compass Financial Services Inc bought a new stake in Deere & Company in the fourth quarter valued at about $254,000. Toronto Dominion Bank raised its position in Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Czech National Bank lifted its stake in Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock worth $23,376,000 after purchasing an additional 2,964 shares during the period. 68.58% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Oppenheimer raised their target price on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. StockNews.com raised Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group lowered shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Citigroup boosted their target price on Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $460.00.

Deere & Company Trading Up 1.8 %

Shares of DE stock traded up $8.52 during trading hours on Tuesday, reaching $477.87. The company had a trading volume of 441,959 shares, compared to its average volume of 1,397,413. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a 50 day moving average of $477.56 and a 200 day moving average of $440.70. The firm has a market cap of $129.70 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.36%. Deere & Company's payout ratio is currently 28.72%.

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.