Deere & Company (NYSE:DE) Shares Sold by Thomasville National Bank

Thomasville National Bank lessened its holdings in shares of Deere & Company (NYSE:DE) by 5.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,045 shares of the industrial products company’s stock after selling 111 shares during the quarter. Thomasville National Bank’s holdings in Deere & Company were worth $840,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at $28,000. Naples Money Management LLC acquired a new position in Deere & Company during the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Deere & Company in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 0.4 %

DE stock opened at $380.00 on Friday. The business has a fifty day moving average price of $387.98 and a 200 day moving average price of $386.55. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The stock has a market capitalization of $104.72 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.65 earnings per share. Analysts expect that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.55%. Deere & Company’s payout ratio is presently 17.70%.

Analyst Ratings Changes

DE has been the topic of several research reports. Morgan Stanley upped their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Daiwa Capital Markets upped their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Oppenheimer reissued an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. Finally, Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $433.36.

About Deere & Company

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.