E. Ohman J or Asset Management AB Cuts Stock Position in Deere & Company $DE

E. Ohman J or Asset Management AB trimmed its position in shares of Deere & Company (NYSE:DE) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,866 shares of the industrial products company’s stock after selling 985 shares during the period. E. Ohman J or Asset Management AB’s holdings in Deere & Company were worth $9,715,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DE. Brighton Jones LLC lifted its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. raised its position in Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 150 shares during the period. American Century Companies Inc. lifted its stake in Deere & Company by 26.2% in the second quarter. American Century Companies Inc. now owns 428,630 shares of the industrial products company’s stock worth $217,954,000 after purchasing an additional 88,930 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Deere & Company by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,563,713 shares of the industrial products company’s stock valued at $795,132,000 after buying an additional 14,665 shares during the period. Finally, Cynosure Group LLC boosted its position in Deere & Company by 14.0% during the second quarter. Cynosure Group LLC now owns 848 shares of the industrial products company’s stock valued at $431,000 after buying an additional 104 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.7%

Shares of NYSE:DE opened at $569.42 on Tuesday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19. The company has a market cap of $153.81 billion, a PE ratio of 32.10, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The stock’s 50-day moving average is $574.33 and its 200 day moving average is $506.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.52. The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is 36.53%.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. DA Davidson lifted their price objective on Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Royal Bank Of Canada raised their price target on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Jefferies Financial Group lowered Deere & Company from a “hold” rating to an “underperform” rating and increased their price objective for the company from $475.00 to $550.00 in a research note on Monday, February 23rd. Finally, Wells Fargo & Company raised their target price on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $644.70.

Deere & Company 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.