Deere & Company (NYSE:DE) Shares Sold by Huntington National Bank

Huntington National Bank lessened its stake in Deere & Company (NYSE:DE) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,320 shares of the industrial products company’s stock after selling 3,977 shares during the quarter. Huntington National Bank’s holdings in Deere & Company were worth $26,829,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC increased its stake in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after acquiring an additional 22 shares during the last quarter. DLK Investment Management LLC lifted its holdings in shares of Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 24 shares during the last quarter. Quent Capital LLC boosted its position in shares of Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after buying an additional 24 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after acquiring an additional 24 shares during the period. Finally, Douglas Lane & Associates LLC grew its holdings in shares of Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE opened at $478.42 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business’s 50 day moving average is $477.87 and its 200-day moving average is $441.29. The stock has a market cap of $129.85 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup raised their price target on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Evercore ISI boosted their price target on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Robert W. Baird reiterated a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $460.00.

Deere & 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.