Peoples Bank OH Has $1.11 Million Holdings in Deere & Company (NYSE:DE)

Peoples Bank OH cut its stake in Deere & Company (NYSE:DE) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,615 shares of the industrial products company’s stock after selling 30 shares during the quarter. Peoples Bank OH’s holdings in Deere & Company were worth $1,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC boosted its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the 4th quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $44,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Down 2.6 %

Shares of DE opened at $496.28 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The firm’s 50 day moving average is $451.08 and its 200-day moving average is $419.90. The stock has a market capitalization of $135.16 billion, a PE ratio of 22.00, a P/E/G ratio of 2.17 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities research analysts forecast that Deere & Company will post 19.3 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.31%. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Finally, StockNews.com downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $454.65.

Deere & 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.