Hilltop National Bank Makes New $1.83 Million Investment in Deere & Company $DE

Hilltop National Bank purchased a new stake in Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,590 shares of the industrial products company’s stock, valued at approximately $1,825,000.

A number of other hedge funds also recently bought and sold shares of DE. Nuveen LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth $571,073,000. Voya Investment Management LLC raised its holdings in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Invesco Ltd. increased its stake in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Deere & Company by 874.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after buying an additional 218,893 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DE. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Daiwa Capital Markets reduced their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Truist Financial cut their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $518.06.

Deere & Company Stock Performance

DE stock opened at $461.88 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a market cap of $124.86 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.91 and a beta of 1.03. The firm has a 50 day simple moving average of $485.74 and a 200 day simple moving average of $489.22. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the company earned $6.29 earnings per share. The company’s revenue was down 9.0% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

About Deere & Company

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.