KLP Kapitalforvaltning AS Acquires New Position in Deere & Company (NYSE:DE)

KLP Kapitalforvaltning AS bought a new stake in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 160,629 shares of the industrial products company's stock, valued at approximately $68,280,000. KLP Kapitalforvaltning AS owned about 0.06% of Deere & Company at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock valued at $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC grew its position in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock valued at $2,168,737,000 after acquiring an additional 31,459 shares in the last quarter. FMR LLC increased its stake in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Fisher Asset Management LLC lifted its position in shares of Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company's stock worth $913,334,000 after purchasing an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company's stock valued at $874,473,000 after purchasing an additional 107,544 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on DE shares. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Robert W. Baird reiterated a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Finally, Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $460.00.

Deere & Company Stock Performance

DE traded down $0.29 during trading on Tuesday, hitting $479.67. 287,490 shares of the stock were exchanged, compared to its average volume of 1,359,819. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The stock has a fifty day moving average price of $474.26 and a two-hundred day moving average price of $437.56. The firm has a market capitalization of $130.19 billion, a P/E ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company's dividend payout ratio (DPR) is 28.72%.

Insider Buying and Selling

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 transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Deere & Company 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.