Deere & Company (NYSE:DE) Shares Purchased by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co increased its holdings in Deere & Company (NYSE:DE) by 11.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,415 shares of the industrial products company’s stock after purchasing an additional 6,394 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Deere & Company were worth $23,320,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DE. International Assets Investment Management LLC grew its stake in Deere & Company by 15.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after acquiring an additional 288 shares during the period. Gilbert & Cook Inc. grew its position in shares of Deere & Company by 5.4% in the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 102 shares during the period. 9258 Wealth Management LLC increased its stake in shares of Deere & Company by 9.8% during the fourth quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after purchasing an additional 176 shares in the last quarter. Gryphon Financial Partners LLC raised its position in shares of Deere & Company by 62.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock worth $551,000 after purchasing an additional 552 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in Deere & Company in the 4th quarter valued at about $1,569,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Deere & Company Stock Down 0.6 %

Shares of DE stock traded down $2.13 during trading on Friday, reaching $381.56. The company’s stock had a trading volume of 1,670,319 shares, compared to its average volume of 1,536,021. Deere & Company has a 1-year low of $340.20 and a 1-year high of $417.46. The stock’s 50-day moving average price is $369.04 and its 200 day moving average price is $380.51. The company has a market capitalization of $105.15 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.28 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 earnings per share. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 25.09 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DE shares. DA Davidson cut their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. TD Cowen boosted their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Citigroup decreased their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $414.11.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.