First Bancorp Inc ME Sells 56 Shares of Deere & Company (NYSE:DE)

First Bancorp Inc ME reduced its position in Deere & Company (NYSE:DE) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 486 shares of the industrial products company’s stock after selling 56 shares during the quarter. First Bancorp Inc ME’s holdings in Deere & Company were worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Everence Capital Management Inc. lifted its holdings in shares of Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after acquiring an additional 7,300 shares during the period. Stockbridge Partners LLC raised its holdings in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after buying an additional 1,291 shares during the last quarter. Chase Investment Counsel Corp raised its holdings in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,400 shares during the last quarter. Finally, Czech National Bank raised its holdings in shares of Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after buying an additional 2,964 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 0.9 %

Shares of Deere & Company stock opened at $478.90 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $479.48. The stock has a market cap of $130.43 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business’s 50 day moving average is $438.55 and its 200-day moving average is $405.66.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the firm posted $8.26 EPS. The company’s quarterly revenue was down 32.8% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Citigroup lowered their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $442.83.

Deere & Company 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.