Swedbank AB Has $134.50 Million Stock Holdings in Deere & Company $DE

Key Points

• Swedbank AB has reduced its holdings in Deere & Company by 38.1%, now owning 286,563 shares valued at approximately $134.5 million.
• Deere & Company recently beat analysts' EPS estimates with reported earnings of $4.75 per share, while its revenue was down 9% from the same quarter last year.
• The company declared a quarterly dividend of $1.62, representing a yield of 1.4%, with the ex-dividend date set for September 30th.

Swedbank AB decreased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 38.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,563 shares of the industrial products company's stock after selling 176,107 shares during the quarter. Swedbank AB owned approximately 0.11% of Deere & Company worth $134,498,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management lifted its holdings 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 stake in Deere & Company during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC lifted its holdings 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. Orion Capital Management LLC acquired a new stake in Deere & Company during the 4th quarter valued at $34,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Deere & Company during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Oppenheimer raised their price target on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Truist Financial dropped their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Raymond James Financial lifted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Deere & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $520.87.

Deere & Company Stock Up 1.0%

DE stock opened at $476.24 on Friday. The company has a market cap of $128.74 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00. The business has a 50-day simple moving average of $498.30 and a 200 day simple moving average of $490.35. Deere & Company has a 52 week low of $383.10 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during 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%.Deere & Company's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.29 earnings per share. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is 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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