Fulton Bank N.A. Buys 110 Shares of Deere & Company (NYSE:DE)

Fulton Bank N.A. raised its stake in Deere & Company (NYSE:DE) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,756 shares of the industrial products company’s stock after purchasing an additional 110 shares during the period. Fulton Bank N.A.’s holdings in Deere & Company were worth $1,403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC increased 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 acquiring an additional 59 shares in the last quarter. Pineridge Advisors LLC increased its position 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 worth $27,000 after acquiring an additional 58 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the fourth quarter worth about $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new position in Deere & Company during the fourth quarter worth about $29,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock traded up $1.22 during midday trading on Tuesday, reaching $346.06. 1,563,908 shares of the stock were exchanged, compared to its average volume of 1,533,433. The company’s fifty day moving average is $370.26 and its 200-day moving average is $382.70. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The firm has a market cap of $95.36 billion, a PE ratio of 10.47, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $441.46.

Deere & Company (NYSE:DE) last posted its earnings results 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. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.65 EPS. On average, sell-side analysts forecast that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Daiwa Capital Markets boosted their price target 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. Morgan Stanley boosted their price target on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. DA Davidson cut their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Truist Financial cut their price target on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Oppenheimer cut their price target 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $426.71.

Deere & Company Company Profile

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.