MidFirst Bank Takes Position in Deere & Company $DE

MidFirst Bank purchased a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,157 shares of the industrial products company’s stock, valued at approximately $1,368,000.

Other institutional investors also recently bought and sold shares of the company. Anchyra Partners LLC boosted its position in Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after acquiring an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. grew its holdings in shares of Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 17 shares during the period. Advisortrust Partners LLC raised its position in shares of Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its position in shares of Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DE. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Truist Financial boosted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a research note on Friday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $641.98.

Deere & Company Stock Performance

Deere & Company stock opened at $600.08 on Tuesday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $161.99 billion, a P/E ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. The stock’s 50 day moving average is $603.76 and its 200 day moving average is $588.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.64 earnings per share. On average, equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.