Deere & Company (NYSE:DE) Shares Sold by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown lessened its position in Deere & Company (NYSE:DE) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,667 shares of the industrial products company’s stock after selling 25 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Deere & Company were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Advyzon Investment Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $203,000. Handelsbanken Fonder AB grew its holdings in Deere & Company by 3.6% in the 4th quarter. Handelsbanken Fonder AB now owns 94,119 shares of the industrial products company’s stock worth $39,878,000 after buying an additional 3,248 shares in the last quarter. Wealth Alliance acquired a new stake in Deere & Company in the 4th quarter valued at approximately $209,000. Sunpointe LLC raised its stake in Deere & Company by 9.0% during the 4th quarter. Sunpointe LLC now owns 705 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 58 shares in the last quarter. Finally, CogentBlue Wealth Advisors LLC acquired a new position in Deere & Company during the 4th quarter worth $226,000. 68.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Morgan Stanley raised 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. Evercore ISI raised their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $454.65.

Deere & Company Stock Up 1.6 %

DE stock opened at $509.54 on Thursday. The company has a 50 day moving average of $449.95 and a two-hundred day moving average of $419.37. The company has a market cap of $138.77 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.96 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, equities analysts anticipate that Deere & Company will post 19.35 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

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.