First Western Trust Bank Has $245,000 Holdings in Deere & Company (NYSE:DE)

First Western Trust Bank lessened its holdings in Deere & Company (NYSE:DE) by 5.9% in the 2nd quarter, Holdings Channel reports. The firm owned 656 shares of the industrial products company’s stock after selling 41 shares during the quarter. First Western Trust Bank’s holdings in Deere & Company were worth $245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DE. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter valued at $1,248,036,000. Parnassus Investments LLC lifted its position in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares during the last quarter. Swedbank AB acquired a new position in Deere & Company during the 1st quarter worth $191,628,000. Vanguard Group Inc. lifted its position in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after acquiring an additional 263,709 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Deere & Company by 3,064.1% during the 1st quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock worth $72,038,000 after acquiring an additional 169,843 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $383.69 on Friday. The stock has a market cap of $105.73 billion, a P/E ratio of 11.55, a PEG ratio of 1.28 and a beta of 0.93. The company’s 50-day simple moving average is $368.87 and its 200 day simple moving average is $380.21. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.20 earnings per share. As a group, research analysts forecast that Deere & Company will post 25.09 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.53%. Deere & Company’s dividend payout ratio is 17.70%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DE shares. Truist Financial reissued a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $414.11.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated 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 directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

About Deere & Company

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.