STAR Financial Bank Sells 160 Shares of Deere & Company (NYSE:DE)

STAR Financial Bank decreased its stake in shares of Deere & Company (NYSE:DE) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 796 shares of the industrial products company’s stock after selling 160 shares during the period. STAR Financial Bank’s holdings in Deere & Company were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Vanguard Group Inc. grew its stake in shares of 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 valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC raised its stake in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares during the period. Parnassus Investments LLC lifted its position in shares of 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 valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Norges Bank bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $1,248,036,000. Finally, Fisher Asset Management LLC grew its stake in shares of Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after acquiring an additional 150,713 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

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

Deere & Company Trading Up 0.0 %

DE opened at $387.30 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock’s fifty day moving average is $370.01 and its two-hundred day moving average is $381.05. The company has a market capitalization of $105.97 billion, a P/E ratio of 11.66, a PEG ratio of 1.27 and a beta of 0.92. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS 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 the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $10.20 EPS. Analysts forecast that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DE. Truist Financial reiterated a “buy” rating and issued a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Citigroup lowered their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, TD Cowen lifted 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. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $414.11.

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.