City State Bank Trims Position in Deere & Company $DE

City State Bank reduced its stake in Deere & Company (NYSE:DE) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,774 shares of the industrial products company’s stock after selling 97 shares during the period. City State Bank’s holdings in Deere & Company were worth $1,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OLD National Bancorp IN raised its holdings in Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after buying an additional 798 shares during the period. Providence Capital Advisors LLC raised its holdings in Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after buying an additional 303 shares during the period. Bragg Financial Advisors Inc raised its holdings in Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after buying an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new position in Deere & Company in the 1st quarter valued at about $13,588,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. Truist Financial lifted their target price on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on Deere & Company in a research report on Wednesday. They issued an “outperform” rating and a $542.00 target price for the company. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $473.01 on Friday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a market cap of $127.87 billion, a PE ratio of 24.73, a P/E/G ratio of 3.02 and a beta of 1.02. 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 business has a 50-day simple moving average of $469.88 and a 200-day simple moving average of $488.49.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s payout ratio is currently 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.