Deere & Company $DE Stock Position Reduced by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB reduced its Deere & Company position by 16.7% in the third quarter, selling 3,053 shares and retaining 15,237 shares valued at approximately $10.2 million. Institutional investors collectively own 68.58% of Deere’s stock.
• Deere reported quarterly EPS of $5.10, exceeding analyst expectations of $4.69, while revenue reached $12.61 billion and increased 6.2% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $688.10; the company also declared a $1.62 quarterly dividend, equivalent to a 1.0% yield.

E. Ohman J or Asset Management AB decreased its position in shares of Deere & Company (NYSE:DE - Free Report) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,237 shares of the industrial products company's stock after selling 3,053 shares during the period. E. Ohman J or Asset Management AB's holdings in Deere & Company were worth $10,232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Marion Wealth Management grew its holdings in shares of Deere & Company by 1.0% in the third quarter. Marion Wealth Management now owns 3,852 shares of the industrial products company's stock valued at $2,587,000 after purchasing an additional 40 shares in the last quarter. Cardinal Capital Management raised its stake in Deere & Company by 2.2% during the third quarter. Cardinal Capital Management now owns 28,186 shares of the industrial products company's stock valued at $18,974,000 after purchasing an additional 597 shares in the last quarter. Magnus Financial Group LLC raised its stake in Deere & Company by 1.4% during the third quarter. Magnus Financial Group LLC now owns 1,336 shares of the industrial products company's stock valued at $897,000 after purchasing an additional 19 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Deere & Company during the third quarter valued at $96,000. Finally, Crossmark Global Holdings Inc. lifted its position in Deere & Company by 0.5% during the third quarter. Crossmark Global Holdings Inc. now owns 14,687 shares of the industrial products company's stock valued at $9,863,000 after purchasing an additional 74 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock opened at $643.25 on Friday. The stock has a market cap of $173.43 billion, a PE ratio of 35.36, a P/E/G ratio of 2.33 and a beta of 0.86. Deere & Company has a 12 month low of $454.50 and a 12 month high of $721.22. The company has a 50-day moving average price of $659.66 and a 200 day moving average price of $614.01. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.75 EPS. Equities research analysts anticipate that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company's payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a research note on Friday, August 21st. Nomura raised shares of Deere & Company to a "buy" rating in a report on Monday, August 31st. JPMorgan Chase & Co. lifted their price target on Deere & Company from $585.00 to $625.00 and gave the stock a "neutral" rating in a research report on Thursday, October 8th. DA Davidson lifted their price target on Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Finally, Evercore raised Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective on the stock in a research note on Wednesday, September 2nd. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and a consensus price target of $688.10.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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