Swedbank AB Decreases Holdings in Deere & Company $DE

Key Points

• Swedbank AB cut its Deere stake by 11.9% in the first quarter, selling 29,483 shares and leaving it with 218,796 shares valued at about $123.2 million.
• Deere reported stronger-than-expected quarterly results, posting EPS of $6.55 versus the $5.70 consensus and revenue of $13.37 billion versus $11.55 billion expected.
• The company continues to reward shareholders with a quarterly dividend of $1.62 per share, or $6.48 annualized, for a 1.1% yield; analysts currently rate the stock a “Moderate Buy” with a consensus target price of $642.23.

Swedbank AB decreased its position in Deere & Company (NYSE:DE - Free Report) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 218,796 shares of the industrial products company's stock after selling 29,483 shares during the quarter. Swedbank AB owned 0.08% of Deere & Company worth $123,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Anchyra Partners LLC raised its stake in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock worth $1,797,000 after acquiring an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its stake in shares of Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock valued at $1,638,000 after purchasing an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in shares of Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC grew its holdings in shares of Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock valued at $410,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

DE opened at $602.62 on Wednesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock has a market capitalization of $162.67 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 2.35 and a beta of 0.89. The stock's 50 day moving average price is $580.07 and its 200-day moving average price is $565.13. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.64 earnings per share. On average, equities research analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's payout ratio is currently 36.71%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DE shares. Robert W. Baird lowered their price target on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Barclays raised their price objective on Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Royal Bank Of Canada reissued an "outperform" rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. DA Davidson dropped their target price on Deere & Company from $775.00 to $685.00 and set a "buy" rating for the company in a report on Friday, May 22nd. Finally, Bank of America reduced their price target on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $642.23.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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