Busey Bank Grows Holdings in Deere & Company (NYSE:DE)

Busey Bank grew its position in shares of Deere & Company (NYSE:DE) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,215 shares of the industrial products company’s stock after buying an additional 387 shares during the quarter. Busey Bank’s holdings in Deere & Company were worth $3,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Livelsberger Financial Advisory purchased a new position in Deere & Company in the third quarter worth $32,000. Modus Advisors LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $32,000. Synergy Asset Management LLC bought a new position in Deere & Company during the fourth quarter valued at about $35,000. Centennial Bank AR increased its holdings in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC raised its position in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Citigroup cut their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered 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 report on Friday, December 6th. Finally, Morgan Stanley boosted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $444.50.

Deere & Company Trading Down 0.3 %

Shares of DE opened at $478.50 on Thursday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a market capitalization of $130.32 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm’s 50 day simple moving average is $441.75 and its 200 day simple moving average is $408.11.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 EPS. Sell-side analysts forecast 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. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is 25.31%.

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.