KLP Kapitalforvaltning AS Makes New $68.28 Million Investment in Deere & Company (NYSE:DE)

KLP Kapitalforvaltning AS bought a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 160,629 shares of the industrial products company’s stock, valued at approximately $68,280,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Robertson Stephens Wealth Management LLC lifted its holdings in shares of Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares during the last quarter. DLK Investment Management LLC lifted its stake in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 24 shares in the last quarter. Quent Capital LLC lifted its stake in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after acquiring an additional 24 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s 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 transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $471.90 on Friday. The business’s fifty day moving average price is $473.25 and its two-hundred day moving average price is $436.21. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market capitalization of $128.08 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal 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 issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Citigroup upped their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus 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.