Deere & Company $DE Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB reduced its holdings in Deere & Company by 7.2%, owning 21,851 shares valued at approximately $11.11 million after selling 1,702 shares in the second quarter.
• Deere & Company reported $4.75 earnings per share for the latest quarter, surpassing analysts' expectations of $4.62, despite experiencing a 9.0% decrease in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, scheduled for payment on November 10th to shareholders recorded by September 30th.

E. Ohman J or Asset Management AB lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,851 shares of the industrial products company's stock after selling 1,702 shares during the period. E. Ohman J or Asset Management AB's holdings in Deere & Company were worth $11,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. TL Private Wealth acquired a new position in shares of Deere & Company in the 2nd quarter valued at $233,000. Cultivar Capital Inc. acquired a new position in shares of Deere & Company in the 2nd quarter valued at $203,000. Parallel Advisors LLC lifted its stake in shares of Deere & Company by 0.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,298 shares of the industrial products company's stock valued at $1,677,000 after purchasing an additional 28 shares during the last quarter. Value Partners Investments Inc. lifted its stake in shares of Deere & Company by 10.0% in the 2nd quarter. Value Partners Investments Inc. now owns 1,475 shares of the industrial products company's stock valued at $749,000 after purchasing an additional 134 shares during the last quarter. Finally, Capital Asset Advisory Services LLC lifted its stake in shares of Deere & Company by 41.1% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 2,360 shares of the industrial products company's stock valued at $1,200,000 after purchasing an additional 687 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial decreased their price target 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 Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. DA Davidson cut their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday. One investment 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 company's stock. According to data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and a consensus target price of $520.87.

Deere & Company Price Performance

Shares of NYSE DE opened at $471.35 on Monday. The stock's 50-day moving average is $497.38 and its two-hundred day moving average is $490.39. 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 has a 1-year low of $386.42 and a 1-year high of $533.78. The company has a market cap of $127.42 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the business earned $6.29 EPS. Deere & Company's revenue was down 9.0% on a year-over-year basis. Analysts forecast 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 Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio is presently 33.87%.

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.

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