Deere & Company (NYSE:DE) Shares Acquired by Park National Corp OH

Park National Corp OH lifted its holdings in shares of Deere & Company (NYSE:DE) by 9.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 102,617 shares of the industrial products company’s stock after purchasing an additional 8,720 shares during the quarter. Deere & Company makes up 1.4% of Park National Corp OH’s portfolio, making the stock its 18th largest holding. Park National Corp OH’s holdings in Deere & Company were worth $38,341,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DE. True Wealth Design LLC grew its position in Deere & Company by 1,180.0% in the 4th 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 last quarter. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 725.0% in 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 in the last quarter. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DE. Stifel Nicolaus increased their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. TD Cowen increased their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Oppenheimer reduced their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Daiwa Capital Markets upped their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $424.78.

Insider Buying and Selling at Deere & Company

In other Deere & Company 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 completion of the sale, the insider now directly 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 SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE traded down $1.02 during midday trading on Monday, reaching $345.01. The stock had a trading volume of 1,581,258 shares, compared to its average volume of 1,531,656. Deere & Company has a 1-year low of $340.20 and a 1-year high of $438.39. The firm’s fifty day simple moving average is $368.46 and its 200-day simple moving average is $381.60. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The stock has a market capitalization of $95.07 billion, a P/E ratio of 10.39, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the firm earned $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, June 28th. 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.