Norway Savings Bank Sells 525 Shares of Deere & Company (NYSE:DE)

Norway Savings Bank reduced its holdings in shares of Deere & Company (NYSE:DE) by 20.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,036 shares of the industrial products company’s stock after selling 525 shares during the quarter. Norway Savings Bank’s holdings in Deere & Company were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Asio Capital LLC acquired a new stake in Deere & Company during the 1st quarter valued at $202,000. Firethorn Wealth Partners LLC bought a new stake in shares of Deere & Company during the 1st quarter worth about $200,000. Atlantic Union Bankshares Corp grew its stake in Deere & Company by 61.9% in the 1st quarter. Atlantic Union Bankshares Corp now owns 9,750 shares of the industrial products company’s stock valued at $4,005,000 after buying an additional 3,728 shares during the last quarter. Addenda Capital Inc. raised its holdings in Deere & Company by 26.2% in the 1st quarter. Addenda Capital Inc. now owns 16,033 shares of the industrial products company’s stock valued at $6,604,000 after acquiring an additional 3,328 shares during the period. Finally, Sendero Wealth Management LLC bought a new position in Deere & Company in the 1st quarter valued at about $205,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DE shares. Morgan Stanley upped their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Raymond James began coverage on Deere & Company in a report on Friday. They issued an “outperform” rating and a $420.00 price objective on the stock. TD Cowen lifted their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Daiwa Capital Markets upped their price target on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a research note on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $430.55.

Deere & Company Trading Down 0.4 %

Shares of DE stock opened at $373.63 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The company has a market cap of $102.96 billion, a PE ratio of 11.25, a P/E/G ratio of 1.51 and a beta of 0.98. The stock’s fifty day moving average price is $385.32 and its two-hundred day moving average price is $387.02.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $9.65 EPS. Equities analysts predict that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.57%. Deere & Company’s dividend payout ratio is presently 17.70%.

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.