Deere & Company (NYSE:DE) Shares Sold by Security National Bank

Security National Bank reduced its stake in Deere & Company (NYSE:DE) by 44.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,276 shares of the industrial products company’s stock after selling 5,008 shares during the quarter. Security National Bank’s holdings in Deere & Company were worth $2,619,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fulton Bank N.A. boosted its stake in shares of Deere & Company by 6.5% in the third quarter. Fulton Bank N.A. now owns 4,002 shares of the industrial products company’s stock valued at $1,670,000 after buying an additional 246 shares in the last quarter. McLean Asset Management Corp acquired a new position in shares of Deere & Company during the 3rd quarter worth $200,000. Value Partners Investments Inc. increased its holdings in shares of Deere & Company by 71.4% in the 3rd quarter. Value Partners Investments Inc. now owns 1,174 shares of the industrial products company’s stock valued at $490,000 after purchasing an additional 489 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Deere & Company by 4.2% in the third quarter. Miracle Mile Advisors LLC now owns 4,112 shares of the industrial products company’s stock valued at $1,716,000 after purchasing an additional 167 shares during the period. Finally, Chemistry Wealth Management LLC boosted its holdings in Deere & Company by 372.8% during the third quarter. Chemistry Wealth Management LLC now owns 3,177 shares of the industrial products company’s stock worth $1,326,000 after buying an additional 2,505 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.5 %

Shares of DE opened at $406.04 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company’s fifty day moving average is $383.08 and its two-hundred day moving average is $385.09. The firm has a market cap of $111.89 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. 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 from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $410.50.

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.