Deere & Company (NYSE:DE) Stake Lessened by STAR Financial Bank

STAR Financial Bank decreased its holdings in shares of Deere & Company (NYSE:DEFree Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 956 shares of the industrial products company’s stock after selling 33 shares during the period. STAR Financial Bank’s holdings in Deere & Company were worth $393,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the 4th quarter valued at about $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at about $29,000. Finally, Bfsg LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at about $30,000. Institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock traded up $2.60 during midday trading on Wednesday, hitting $351.44. The company had a trading volume of 1,475,802 shares, compared to its average volume of 1,513,834. The business’s 50 day simple moving average is $379.48 and its two-hundred day simple moving average is $385.55. The stock has a market cap of $96.85 billion, a PE ratio of 10.58, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. Deere & Company has a 1-year low of $345.93 and a 1-year high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter last year, the company posted $9.65 earnings per share. As a group, equities analysts predict that Deere & Company will post 25.56 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.67%. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DE shares. DA Davidson dropped their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a report on Friday, May 17th. Morgan Stanley raised their price objective on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, TD Cowen raised their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $427.66.

View Our Latest Research Report on DE

About Deere & Company

(Free Report)

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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

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