Webster Bank N. A. Purchases 35 Shares of Deere & Company (NYSE:DE)

Webster Bank N. A. boosted its stake in Deere & Company (NYSE:DE) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,401 shares of the industrial products company’s stock after acquiring an additional 35 shares during the period. Webster Bank N. A.’s holdings in Deere & Company were worth $1,397,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its position 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 worth $26,000 after purchasing an additional 59 shares during the period. ZRC Wealth Management LLC bought a new position in Deere & Company in the 4th quarter valued at $28,000. Rakuten Securities Inc. bought a new position in Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company during the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company during the 4th quarter worth $29,000. 68.58% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Stifel Nicolaus raised their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. DA Davidson reduced their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Daiwa Capital Markets lifted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $430.55.

Deere & Company Trading Down 0.4 %

DE traded down $1.68 during trading on Friday, hitting $373.63. 6,689,701 shares of the stock were exchanged, compared to its average volume of 1,409,983. Deere & Company has a 1 year low of $353.15 and a 1 year high of $450.00. The firm has a 50 day simple moving average of $385.32 and a 200 day simple moving average of $387.02. The firm has a market cap of $102.96 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 1.51 and a beta of 0.98. 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 (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter last year, the firm earned $9.65 EPS. The business’s quarterly revenue was down 15.4% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is presently 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.