E. Ohman J or Asset Management AB Has $10.46 Million Position in Deere & Company $DE

E. Ohman J or Asset Management AB cut its position in Deere & Company (NYSE:DE) by 11.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Strategic Advocates LLC bought a new position in Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $27,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Deere & Company in the third quarter valued at about $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DE shares. Raymond James Financial lowered their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Morgan Stanley boosted their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. DA Davidson decreased their target price on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Wolfe Research raised their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Trading Up 0.2%

DE opened at $590.37 on Friday. The stock has a market capitalization of $159.36 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a 50-day simple moving average of $573.71 and a 200 day simple moving average of $552.66.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period last year, the firm earned $6.64 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company 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 dividend payout ratio (DPR) is currently 36.71%.

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.