First Community Trust NA Cuts Stake in Deere & Company (NYSE:DE)

First Community Trust NA trimmed its position in Deere & Company (NYSE:DE) by 1.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,400 shares of the industrial products company’s stock after selling 200 shares during the quarter. Deere & Company comprises approximately 4.6% of First Community Trust NA’s portfolio, making the stock its 5th largest holding. First Community Trust NA’s holdings in Deere & Company were worth $5,592,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% during 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 last quarter. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 4th quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management bought a new stake in Deere & Company during the 4th quarter worth approximately $33,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Finally, Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $410.50.

Deere & Company Stock Performance

Shares of DE opened at $416.49 on Thursday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock’s fifty day moving average price is $382.11 and its two-hundred day moving average price is $384.87. The firm has a market cap of $114.77 billion, a PE ratio of 12.54, a PEG ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business 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 quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business posted $10.20 EPS. On average, equities research analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

About Deere & Company

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.