Bremer Bank National Association Sells 25 Shares of Deere & Company (NYSE:DE)

Bremer Bank National Association cut its stake in shares of Deere & Company (NYSE:DE) by 1.4% in the fourth quarter, HoldingsChannel reports. The fund owned 1,790 shares of the industrial products company’s stock after selling 25 shares during the period. Bremer Bank National Association’s holdings in Deere & Company were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DE. Fairscale Capital LLC bought a new position in Deere & Company in the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company in the 3rd quarter worth approximately $32,000. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter worth approximately $32,000. Centennial Bank AR boosted its stake in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DE has been the subject of several recent analyst reports. Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Finally, Oppenheimer upped their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Performance

NYSE:DE opened at $456.57 on Monday. The stock’s fifty day moving average is $431.48 and its 200 day moving average is $402.25. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The firm has a market capitalization of $124.35 billion, a PE ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

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, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 EPS. On average, sell-side analysts anticipate that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

About Deere & Company

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.