Iowa State Bank Increases Holdings in Deere & Company $DE

Iowa State Bank lifted its position in shares of Deere & Company (NYSE:DE) by 26.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 604 shares of the industrial products company’s stock after acquiring an additional 127 shares during the quarter. Iowa State Bank’s holdings in Deere & Company were worth $307,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Activest Wealth Management boosted its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wolfe Research cut their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday. Robert W. Baird cut their price objective on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research report on Saturday, September 27th. Truist Financial cut their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Finally, DA Davidson cut their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.18.

Deere & Company Trading Up 0.2%

Shares of DE opened at $462.59 on Monday. The stock has a fifty day moving average of $484.64 and a two-hundred day moving average of $489.24. 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 company has a market capitalization of $125.05 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.29 EPS. As a group, analysts forecast 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 Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. 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 is presently 33.87%.

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.