Deere & Company $DE Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Deere & Company (NYSE:DE) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 114,640 shares of the industrial products company’s stock after selling 6,578 shares during the period. Handelsbanken Fonder AB’s holdings in Deere & Company were worth $72,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in DE. Brighton Jones LLC grew its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its holdings in Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Deere & Company in the second quarter worth about $2,153,000. NewEdge Advisors LLC raised its position in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $608.68 on Tuesday. The business has a 50 day simple moving average of $600.93 and a two-hundred day simple moving average of $585.63. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market capitalization of $164.31 billion, a P/E ratio of 34.49, a PEG ratio of 2.62 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.64 earnings per share. As a group, analysts predict that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Bank of America dropped their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Oppenheimer reiterated 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. Robert W. Baird dropped their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Citigroup boosted their price objective on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $642.98.

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.