PensionDanmark Pensionsforsikringsaktieselskab Increases Position in Deere & Company $DE

PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in Deere & Company (NYSE:DE) by 9.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 34,847 shares of the industrial products company’s stock after acquiring an additional 2,900 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Deere & Company were worth $22,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in Deere & Company in the 4th quarter worth approximately $1,715,633,000. Capital World Investors raised its position in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after buying an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after buying an additional 1,893,972 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after buying an additional 1,721,239 shares in the last quarter. Finally, Diamant Asset Management Inc. lifted its holdings in shares of Deere & Company by 56,230.0% in the first quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock worth $343,961,000 after buying an additional 609,533 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $613.86 on Friday. The firm has a fifty day simple moving average of $597.99 and a two-hundred day simple moving average of $584.16. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $165.70 billion, a P/E ratio of 34.78, a PEG ratio of 2.59 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the firm earned $6.64 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s payout ratio is 36.71%.

Analyst Upgrades and Downgrades

Several analysts have commented on DE shares. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Raymond James Financial reduced their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. DA Davidson reissued a “buy” rating and set a $685.00 price target on shares of Deere & Company in a research note on Friday, July 17th. Finally, Oppenheimer restated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $642.98.

About Deere & Company

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.