Park National Corp OH Sells 2,078 Shares of Deere & Company $DE

Park National Corp OH decreased its holdings in shares of Deere & Company (NYSE:DE) by 2.3% in the second quarter, Holdings Channel reports. The firm owned 86,547 shares of the industrial products company’s stock after selling 2,078 shares during the quarter. Deere & Company comprises about 1.5% of Park National Corp OH’s portfolio, making the stock its 13th biggest holding. Park National Corp OH’s holdings in Deere & Company were worth $44,008,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DE. Assenagon Asset Management S.A. increased its holdings in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after purchasing an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after acquiring an additional 798 shares in the last quarter. Providence Capital Advisors LLC lifted its position in Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after acquiring an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its position in Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after acquiring an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in Deere & Company during the 1st quarter worth about $13,588,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $471.35 on Friday. Deere & Company has a 52-week low of $386.42 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a fifty day moving average price of $497.38 and a 200-day moving average price of $490.24. The company has a market capitalization of $127.42 billion, a P/E ratio of 24.64, a PEG ratio of 3.06 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.29 earnings per share. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Barclays upped their target price on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $520.87.

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.