Deere & Company (NYSE:DE) Shares Sold by Norway Savings Bank

Norway Savings Bank trimmed its holdings in shares of Deere & Company (NYSE:DE) by 20.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,036 shares of the industrial products company’s stock after selling 525 shares during the period. Norway Savings Bank’s holdings in Deere & Company were worth $836,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in DE. Federated Hermes Inc. boosted its position in Deere & Company by 0.6% during the third quarter. Federated Hermes Inc. now owns 19,210 shares of the industrial products company’s stock worth $7,249,000 after acquiring an additional 124 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Deere & Company by 30.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 15,297 shares of the industrial products company’s stock worth $5,773,000 after acquiring an additional 3,559 shares during the period. Mutual Advisors LLC boosted its position in shares of Deere & Company by 3.6% in the third quarter. Mutual Advisors LLC now owns 4,783 shares of the industrial products company’s stock worth $1,805,000 after acquiring an additional 164 shares during the last quarter. Mather Group LLC. grew its holdings in Deere & Company by 12.3% in the third quarter. Mather Group LLC. now owns 2,194 shares of the industrial products company’s stock valued at $828,000 after purchasing an additional 240 shares during the period. Finally, Bank of Nova Scotia raised its stake in Deere & Company by 2.2% during the third quarter. Bank of Nova Scotia now owns 54,660 shares of the industrial products company’s stock worth $20,625,000 after purchasing an additional 1,199 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the subject of a number of research analyst reports. Citigroup started coverage on Deere & Company in a report on Wednesday. They set a “neutral” rating and a $395.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a research note on Thursday, May 16th. Morgan Stanley increased their target price on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Finally, Daiwa Capital Markets increased their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $430.55.

Deere & Company Price Performance

Shares of NYSE DE opened at $373.63 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The business has a 50 day moving average price of $385.32 and a two-hundred day moving average price of $387.02. The firm has a market cap of $102.96 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98.

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

Deere & Company Announces Dividend

The business 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 payout ratio is currently 17.70%.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

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.