Deere & Company (NYSE:DE) Stake Reduced by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc trimmed its stake in Deere & Company (NYSE:DEFree Report) by 5.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 35,296 shares of the industrial products company’s stock after selling 2,131 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Deere & Company were worth $15,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in Deere & Company during the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the 4th quarter valued at about $39,000. Dogwood Wealth Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $42,000. Wood Tarver Financial Group LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $43,000. Finally, Citizens National Bank Trust Department bought a new stake in Deere & Company during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock traded up $3.19 during mid-day trading on Wednesday, reaching $511.55. 37,810 shares of the company were exchanged, compared to its average volume of 1,352,970. The firm has a market cap of $138.54 billion, a PE ratio of 24.74, a PEG ratio of 3.23 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a fifty day simple moving average of $502.95 and a 200-day simple moving average of $473.86. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings results 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. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company’s revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the business earned $8.53 earnings per share. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is presently 31.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DE. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Bank of America raised their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. UBS Group dropped their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Truist Financial lifted their price target 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. Finally, Raymond James Financial upped their price target on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $515.19.

Check Out Our Latest Stock Analysis on Deere & Company

Deere & Company Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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