Avanza Fonder AB Sells 2,108 Shares of Deere & Company $DE

Key Points

• Avanza Fonder AB reduced its holdings in Deere & Company by 8.4% during Q2, selling 2,108 shares and now holding 22,854 shares valued at approximately $11.62 million.
• Deere & Company recently reported earnings per share (EPS) of $4.75 for the last quarter, exceeding analyst expectations, despite a 9% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.62 per share, to be paid on November 10th, with a current annual yield of 1.4% and a payout ratio of 33.87%.

Avanza Fonder AB lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 8.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 22,854 shares of the industrial products company's stock after selling 2,108 shares during the period. Avanza Fonder AB's holdings in Deere & Company were worth $11,621,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management boosted its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC acquired a new position in Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in Deere & Company during the 2nd quarter valued at about $38,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DE shares. JPMorgan Chase & Co. cut their price target on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. Robert W. Baird cut their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Truist Financial cut their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average price target of $517.27.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $2.04 during trading on Tuesday, hitting $471.07. 570,812 shares of the company were exchanged, compared to its average volume of 1,373,282. The company has a market cap of $127.35 billion, a PE ratio of 24.62, a P/E/G ratio of 3.02 and a beta of 1.00. The stock has a 50 day moving average of $492.45 and a 200 day moving average of $490.16. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.29 earnings per share. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio is currently 33.87%.

About Deere & Company

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.