First United Bank & Trust Reduces Stock Position in Deere & Company (NYSE:DE)

First United Bank & Trust cut its stake in Deere & Company (NYSE:DE) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 706 shares of the industrial products company’s stock after selling 23 shares during the period. First United Bank & Trust’s holdings in Deere & Company were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DE. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $39,000. Dogwood Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $42,000. Sierra Ocean LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $44,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $43,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on DE. DA Davidson reiterated a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Bank of America raised their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Raymond James raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Truist Financial raised their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Stock Performance

Shares of DE stock opened at $520.72 on Thursday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a market cap of $141.03 billion, a PE ratio of 23.08, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company’s fifty day simple moving average is $483.40 and its 200-day simple moving average is $467.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the business posted $8.53 EPS. The firm’s revenue was down 17.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. Deere & Company’s dividend payout ratio is currently 31.35%.

Deere & Company Profile

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.