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

E. Ohman J or Asset Management AB reduced its stake in Deere & Company (NYSE:DE) by 16.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 institutional investors have also modified their holdings of DE. Marion Wealth Management raised its stake in shares of Deere & Company by 1.0% during the third quarter. Marion Wealth Management now owns 3,852 shares of the industrial products company’s stock valued at $2,587,000 after acquiring an additional 40 shares in the last quarter. Cardinal Capital Management grew its stake in Deere & Company by 2.2% in the third quarter. Cardinal Capital Management now owns 28,186 shares of the industrial products company’s stock worth $18,974,000 after purchasing an additional 597 shares in the last quarter. Magnus Financial Group LLC increased its holdings in Deere & Company by 1.4% during the 3rd quarter. Magnus Financial Group LLC now owns 1,336 shares of the industrial products company’s stock worth $897,000 after purchasing an additional 19 shares during the period. Kings Path Partners LLC purchased a new position in Deere & Company during the 3rd quarter worth $96,000. Finally, Crossmark Global Holdings Inc. raised its position in Deere & Company by 0.5% during the 3rd 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 in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DE shares. Truist Financial lowered their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a report on Monday, August 24th. Raymond James Financial raised their price target on Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Nomura upgraded Deere & Company to a “buy” rating in a report on Monday, August 31st. Evercore raised shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price objective for the company in a research note on Wednesday, September 2nd. Finally, Bank of America increased their target price on shares of Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $688.10.

Deere & Company Stock Up 1.1%

Shares of NYSE DE opened at $643.25 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $173.43 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 2.33 and a beta of 0.86. The stock’s fifty day simple moving average is $659.66 and its two-hundred day simple moving average is $614.01. Deere & Company has a 12-month low of $454.50 and a 12-month high of $721.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $4.75 EPS. As a group, analysts expect that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

About Deere & Company

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.