Nordea Investment Management AB trimmed its stake in Deere & Company (NYSE:DE) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,665 shares of the industrial products company’s stock after selling 1,031 shares during the quarter. Nordea Investment Management AB’s holdings in Deere & Company were worth $8,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lcnb Corp raised its position in Deere & Company by 7.4% during the fourth quarter. Lcnb Corp now owns 2,185 shares of the industrial products company’s stock valued at $326,000 after acquiring an additional 150 shares in the last quarter. Executive Wealth Management LLC bought a new position in Deere & Company during the fourth quarter valued at approximately $77,000. Pathlight Investors LLC bought a new position in Deere & Company during the fourth quarter valued at approximately $524,000. Advisory Services Network LLC raised its position in Deere & Company by 18.0% during the fourth quarter. Advisory Services Network LLC now owns 14,915 shares of the industrial products company’s stock valued at $2,225,000 after acquiring an additional 2,273 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Deere & Company by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 247,190 shares of the industrial products company’s stock valued at $36,873,000 after acquiring an additional 2,700 shares in the last quarter. 68.25% of the stock is owned by institutional investors and hedge funds.
Shares of Deere & Company stock traded down $2.45 during midday trading on Wednesday, hitting $165.31. The company had a trading volume of 1,390,469 shares, compared to its average volume of 1,991,343. The company has a market cap of $53.43 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.77 and a beta of 0.90. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46. Deere & Company has a 1-year low of $128.32 and a 1-year high of $169.99.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.84%. Deere & Company’s dividend payout ratio is currently 32.37%.
Several equities analysts have commented on DE shares. Credit Suisse Group lowered their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a report on Tuesday, February 19th. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and lowered their price target for the company from $173.00 to $170.00 in a report on Wednesday, February 13th. DZ Bank downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Argus increased their price target on Deere & Company to $175.00 and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, OTR Global upgraded Deere & Company to a “positive” rating in a report on Friday, January 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $179.43.
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About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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