E. Ohman J or Asset Management AB Sells 2,296 Shares of Deere & Company $DE

E. Ohman J or Asset Management AB decreased its holdings in shares of Deere & Company (NYSE:DE) by 11.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,570 shares of the industrial products company’s stock after selling 2,296 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Deere & Company were worth $10,460,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth about $25,000. Key Capital Management INC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $27,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC bought a new stake in Deere & Company during the third quarter worth about $32,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DE shares. Oppenheimer reissued an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a research report on Wednesday, April 8th. Raymond James Financial dropped their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Bank of America cut their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Robert W. Baird decreased their target price 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. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Up 0.2%

DE stock opened at $590.37 on Friday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business’s 50 day simple moving average is $573.71 and its 200 day simple moving average is $552.66. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $159.36 billion, a PE ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the firm posted $6.64 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts anticipate that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Deere & Company Profile

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.