Central Bank & Trust Co. decreased its stake in shares of Deere & Company (NYSE:DE – Free Report) by 57.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,548 shares of the industrial products company’s stock after selling 9,991 shares during the period. Central Bank & Trust Co.’s holdings in Deere & Company were worth $3,100,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in shares of Deere & Company by 19.2% in the third quarter. Envestnet Asset Management Inc. now owns 214,387 shares of the industrial products company’s stock worth $80,905,000 after acquiring an additional 34,520 shares in the last quarter. CI Investments Inc. increased its position in shares of Deere & Company by 0.7% in the third quarter. CI Investments Inc. now owns 11,457 shares of the industrial products company’s stock worth $4,324,000 after acquiring an additional 75 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Deere & Company by 747.5% in the third quarter. V Square Quantitative Management LLC now owns 517 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 456 shares in the last quarter. Regal Investment Advisors LLC increased its position in shares of Deere & Company by 421.5% in the third quarter. Regal Investment Advisors LLC now owns 3,098 shares of the industrial products company’s stock worth $1,169,000 after acquiring an additional 2,504 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Deere & Company in the third quarter valued at $922,000. Institutional investors and hedge funds own 68.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on DE. Truist Financial began coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Morgan Stanley increased their price objective on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. DA Davidson reduced their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Finally, TD Cowen increased their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $433.36.
Deere & Company Price Performance
Shares of DE stock traded down $6.49 during midday trading on Friday, reaching $375.04. 2,450,701 shares of the company were exchanged, compared to its average volume of 1,229,998. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The company has a market cap of $103.35 billion, a P/E ratio of 11.29, a PEG ratio of 1.53 and a beta of 0.98. The company’s 50 day moving average price is $387.54 and its two-hundred day moving average price is $386.77. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.65 EPS. On average, sell-side analysts expect that Deere & Company will post 25.61 earnings per share for the current year.
Deere & Company Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.
Deere & Company Company Profile
Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.