KLP Kapitalforvaltning AS Buys New Shares in Deere & Company (NYSE:DE)

KLP Kapitalforvaltning AS bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and 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 0.06% of Deere & Company at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its stake in shares of Deere & Company by 4.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,344 shares of the industrial products company’s stock worth $1,396,000 after acquiring an additional 131 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Deere & Company in the 3rd quarter valued at about $47,000. King Luther Capital Management Corp lifted its stake in Deere & Company by 11.9% in the 3rd quarter. King Luther Capital Management Corp now owns 3,032 shares of the industrial products company’s stock valued at $1,265,000 after buying an additional 322 shares in the last quarter. Cypress Capital Group lifted its stake in Deere & Company by 36.2% in the 3rd quarter. Cypress Capital Group now owns 2,666 shares of the industrial products company’s stock valued at $1,113,000 after buying an additional 708 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Deere & Company by 435.2% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 15,108 shares of the industrial products company’s stock valued at $6,305,000 after buying an additional 12,285 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Deere & Company Price Performance

Deere & Company stock opened at $471.90 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The stock has a market cap of $128.08 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a fifty day simple moving average of $473.25 and a 200-day simple moving average of $436.21.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. Equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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 is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.37%. Deere & Company’s dividend payout ratio is presently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. 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 research note on Friday, December 6th. Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. Truist Financial reissued a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $460.00.

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.