First Interstate Bank Sells 181 Shares of Deere & Company (NYSE:DE)

First Interstate Bank lowered its stake in shares of Deere & Company (NYSE:DE) by 12.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,240 shares of the industrial products company’s stock after selling 181 shares during the quarter. First Interstate Bank’s holdings in Deere & Company were worth $496,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. RB Capital Management LLC boosted its position in Deere & Company by 5.2% in the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares during the last quarter. Bornite Capital Management LP purchased a new position in Deere & Company in the first quarter worth $14,541,000. Retirement Income Solutions Inc purchased a new position in Deere & Company in the first quarter worth $229,000. Sequoia Financial Advisors LLC boosted its position in Deere & Company by 27.1% in the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in Deere & Company by 32.4% in the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after purchasing an additional 27,985 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $0.69 during trading on Tuesday, hitting $393.11. 1,865,357 shares of the stock traded hands, compared to its average volume of 1,501,141. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The stock has a market cap of $109.43 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.49 and a beta of 1.04. The firm’s fifty day moving average is $384.87 and its 200-day moving average is $382.45.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the company posted $6.55 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. Research analysts expect that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI upped their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Stifel Nicolaus dropped their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Finally, Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $433.28.

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.