Security National Bank Acquires 1,854 Shares of Deere & Company (NYSE:DE)

Security National Bank lifted its holdings in Deere & Company (NYSE:DE) by 30.2% in the first quarter, Holdings Channel reports. The fund owned 7,990 shares of the industrial products company’s stock after purchasing an additional 1,854 shares during the quarter. Security National Bank’s holdings in Deere & Company were worth $3,750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Orion Capital Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company during the 4th quarter valued at $39,000. Dogwood Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter worth $42,000. Wood Tarver Financial Group LLC purchased a new position in Deere & Company during the fourth quarter worth $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Deere & Company during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DE. UBS Group lowered their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup dropped their target price on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

DE opened at $506.87 on Thursday. The company has a market capitalization of $137.28 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.26 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The business’s fifty day simple moving average is $498.19 and its 200-day simple moving average is $471.85.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.53 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company’s dividend payout ratio is presently 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.