First Citizens Financial Corp Reduces Stock Holdings in Deere & Company (NYSE:DE)

First Citizens Financial Corp lowered its holdings in shares of Deere & Company (NYSE:DE) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,143 shares of the industrial products company’s stock after selling 29 shares during the quarter. First Citizens Financial Corp’s holdings in Deere & Company were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the period. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the fourth quarter worth $30,000. Finally, Spartan Planning & Wealth Management bought a new position in Deere & Company in the 4th quarter worth $33,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE DE opened at $408.74 on Friday. The firm’s fifty day simple moving average is $382.65 and its two-hundred day simple moving average is $385.04. The firm has a market capitalization of $112.64 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.20 earnings per share. Analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.44%. Deere & Company’s payout ratio is presently 17.70%.

Analyst Ratings Changes

A number of brokerages have issued reports on DE. Citigroup cut their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial reissued a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Raymond James initiated coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $410.50.

Deere & 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.