City Holding Co. Has $8.23 Million Stake in Deere & Company (NYSE:DE)

City Holding Co. lowered its holdings in shares of Deere & Company (NYSE:DE) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,425 shares of the industrial products company’s stock after selling 640 shares during the quarter. Deere & Company accounts for about 1.2% of City Holding Co.’s portfolio, making the stock its 16th biggest position. City Holding Co.’s holdings in Deere & Company were worth $8,230,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DE. Wellington Management Group LLP lifted its stake in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after acquiring an additional 31,459 shares during the period. FMR LLC boosted its stake in Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc increased its holdings in Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 4.0 %

Deere & Company stock opened at $456.57 on Monday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The stock has a market cap of $124.35 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The company’s 50-day moving average price is $431.48 and its two-hundred day moving average price is $402.25. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the firm posted $8.26 EPS. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, analysts expect that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DE. Morgan Stanley increased their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays boosted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Citigroup decreased their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.