Deere & Company $DE Shares Sold by Park National Corp OH

Park National Corp OH lowered its position in Deere & Company (NYSE:DE) by 27.3% in the first quarter, HoldingsChannel reports. The firm owned 25,049 shares of the industrial products company’s stock after selling 9,413 shares during the period. Park National Corp OH’s holdings in Deere & Company were worth $14,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Cary Street Partners Financial LLC raised its position in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC grew its holdings in shares of Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares during the period. Westpac Banking Corp increased its position in shares of Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after purchasing an additional 3,047 shares during the last quarter. Legal & General Group Plc increased its position in shares of Deere & Company by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock worth $755,385,000 after purchasing an additional 115,975 shares during the last quarter. Finally, Eldred Rock Partners LLC purchased a new stake in Deere & Company in the 4th quarter valued at about $13,166,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on DE shares. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a research report on Wednesday, April 8th. Barclays lifted their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Oppenheimer reissued an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Truist Financial decreased their price objective on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Finally, Bank of America lowered their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Price Performance

DE opened at $590.37 on Friday. The stock’s 50-day moving average price is $573.71 and its 200 day moving average price is $552.66. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market cap of $159.36 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $6.64 EPS. As a group, sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. 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.