Deere & Company (NYSE:DE) Shares Sold by First Western Trust Bank

First Western Trust Bank lessened its stake in shares of Deere & Company (NYSE:DE) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 656 shares of the industrial products company’s stock after selling 41 shares during the quarter. First Western Trust Bank’s holdings in Deere & Company were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DE. True Wealth Design LLC increased its stake in shares of 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 valued at $26,000 after acquiring an additional 59 shares during the period. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% during the first 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 during the period. Private Wealth Management Group LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 2.1 %

Deere & Company stock opened at $383.69 on Friday. The company’s fifty day simple moving average is $368.87 and its 200-day simple moving average is $380.21. 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 has a 12 month low of $340.20 and a 12 month high of $417.46. The stock has a market cap of $105.73 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.28 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the company posted $10.20 EPS. Deere & Company’s revenue was down 20.3% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were 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 in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on DE shares. Daiwa Capital Markets raised their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Oppenheimer reduced their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Truist Financial restated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Stifel Nicolaus raised their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Evercore ISI raised their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $414.11.

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.