Deere & Company (NYSE:DE) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services trimmed its position in Deere & Company (NYSE:DE) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,655 shares of the industrial products company’s stock after selling 156 shares during the period. Deere & Company accounts for about 1.8% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 16th biggest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Deere & Company were worth $7,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DE. Wellington Management Group LLP lifted its holdings in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. FMR LLC lifted its holdings in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the last quarter. Finally, Stockbridge Partners LLC lifted its holdings in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer raised their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Citigroup cut their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Performance

DE opened at $456.57 on Friday. The company has a market capitalization of $124.00 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The business has a 50 day moving average price of $430.22 and a two-hundred day moving average price of $401.33.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 earnings per share. Research analysts predict that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Deere & Company Company Profile

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.