Deere & Company $DE Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its stake in Deere & Company (NYSE:DE) by 45.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 25,225 shares of the industrial products company’s stock after selling 21,406 shares during the quarter. AMF Tjanstepension AB’s holdings in Deere & Company were worth $12,844,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DE. Brighton Jones LLC grew its stake in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Deere & Company by 4.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,398 shares of the industrial products company’s stock worth $656,000 after purchasing an additional 58 shares during the last quarter. Chesley Taft & Associates LLC lifted its holdings in shares of Deere & Company by 11.8% in the 1st quarter. Chesley Taft & Associates LLC now owns 950 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 100 shares during the last quarter. Breakwater Capital Group lifted its holdings in shares of Deere & Company by 3.8% in the 1st quarter. Breakwater Capital Group now owns 1,705 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 63 shares during the last quarter. Finally, Vest Financial LLC increased its position in Deere & Company by 73.5% in the 1st quarter. Vest Financial LLC now owns 3,837 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 1,626 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Oppenheimer lowered their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Robert W. Baird lowered their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Truist Financial lowered their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Wolfe Research lowered their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $518.18.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $462.59 on Friday. The stock has a market cap of $125.05 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The business has a fifty day simple moving average of $484.64 and a 200-day simple moving average of $489.09. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.29 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.