First International Bank & Trust Cuts Stock Holdings in Deere & Company (NYSE:DE)

First International Bank & Trust lowered its stake in Deere & Company (NYSE:DE) by 11.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,022 shares of the industrial products company’s stock after selling 252 shares during the period. First International Bank & Trust’s holdings in Deere & Company were worth $857,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Everence Capital Management Inc. boosted its position in Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after buying an additional 7,300 shares during the period. Stockbridge Partners LLC boosted its holdings in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Finally, Chase Investment Counsel Corp increased its holdings in Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE opened at $409.70 on Friday. The firm has a market cap of $111.26 billion, a PE ratio of 16.00, a P/E/G ratio of 1.91 and a beta of 0.98. The stock has a 50-day moving average price of $427.83 and a 200-day moving average price of $399.49. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the company earned $8.26 earnings per share. Sell-side analysts predict that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.58%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Oppenheimer raised their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $443.94.

Deere & Company Company Profile

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.