Deere & Company $DE Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB reduced its stake in Deere & Company by 45.9% in Q2, holding 25,225 shares valued at approximately $12.8 million.
• The company reported earnings of $4.75 per share for the last quarter, surpassing estimates and reflecting a year-over-year revenue decline of 9%.
• Deere & Company declared a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, set to be paid on November 10th.

AMF Tjanstepension AB lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 45.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,225 shares of the industrial products company's stock after selling 21,406 shares during the period. AMF Tjanstepension AB's holdings in Deere & Company were worth $12,844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ameriflex Group Inc. boosted its position in Deere & Company by 8.9% during the second quarter. Ameriflex Group Inc. now owns 577 shares of the industrial products company's stock worth $293,000 after purchasing an additional 47 shares in the last quarter. QRG Capital Management Inc. boosted its position in Deere & Company by 8.7% during the second quarter. QRG Capital Management Inc. now owns 40,092 shares of the industrial products company's stock worth $20,386,000 after purchasing an additional 3,199 shares in the last quarter. Wallington Asset Management LLC boosted its position in Deere & Company by 1.3% during the second quarter. Wallington Asset Management LLC now owns 26,714 shares of the industrial products company's stock worth $13,584,000 after purchasing an additional 331 shares in the last quarter. Jackson Wealth Management LLC purchased a new stake in Deere & Company during the second quarter worth $465,000. Finally, Stock Yards Bank & Trust Co. boosted its position in Deere & Company by 5.9% during the second quarter. Stock Yards Bank & Trust Co. now owns 9,845 shares of the industrial products company's stock worth $5,006,000 after purchasing an additional 545 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

DE has been the topic of several recent research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a research report on Saturday, September 27th. Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and an average price target of $518.18.

Deere & Company Price Performance

DE opened at $462.59 on Friday. The company's 50 day simple moving average is $484.64 and its 200 day simple moving average is $489.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a market capitalization of $125.05 billion, a PE ratio of 24.18, a P/E/G ratio of 2.97 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last released 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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the company earned $6.29 earnings per share. The company's quarterly revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a 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.

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