OLD National Bancorp IN Trims Stock Holdings in Deere & Company $DE

OLD National Bancorp IN lowered its position in shares of Deere & Company (NYSE:DE) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,657 shares of the industrial products company’s stock after selling 1,123 shares during the quarter. OLD National Bancorp IN’s holdings in Deere & Company were worth $10,548,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Bouchey Financial Group Ltd boosted its stake in Deere & Company by 4.4% during the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock worth $229,000 after acquiring an additional 21 shares in the last quarter. Silvant Capital Management LLC increased its stake in shares of Deere & Company by 0.5% during the third quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock valued at $2,034,000 after purchasing an additional 21 shares in the last quarter. Blue Chip Partners LLC lifted its holdings in shares of Deere & Company by 1.4% during the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock valued at $801,000 after purchasing an additional 21 shares during the last quarter. Forefront Wealth Partners LLC lifted its holdings in shares of Deere & Company by 4.1% during the third quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 22 shares during the last quarter. Finally, Romano Brothers AND Company boosted its position in shares of Deere & Company by 0.3% in the 4th quarter. Romano Brothers AND Company now owns 7,936 shares of the industrial products company’s stock worth $3,695,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of analyst reports. Citigroup reduced their price objective on Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research report on Monday, March 9th. Wolfe Research increased their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Argus raised their price target on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada lifted their price target on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Robert W. Baird cut their price objective on shares of Deere & Company from $675.00 to $580.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Stock Up 1.1%

DE stock opened at $586.17 on Thursday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business has a fifty day moving average price of $594.50 and a 200-day moving average price of $524.44. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The stock has a market capitalization of $158.33 billion, a P/E ratio of 33.01, a P/E/G ratio of 2.05 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same period last year, the firm posted $3.19 earnings per share. Deere & Company’s revenue was up 17.5% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 18 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st 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 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.