Deere & Company (NYSE:DE) Shares Purchased by Field & Main Bank

Field & Main Bank lifted its stake in Deere & Company (NYSE:DE) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,023 shares of the industrial products company’s stock after purchasing an additional 50 shares during the period. Field & Main Bank’s holdings in Deere & Company were worth $1,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc acquired a new position in Deere & Company during the third quarter worth about $25,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the fourth quarter worth about $28,000. Naples Money Management LLC acquired a new position in Deere & Company during the fourth quarter worth about $29,000. Bfsg LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Finally, ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE traded up $7.58 during mid-day trading on Monday, hitting $400.91. The company’s stock had a trading volume of 847,074 shares, compared to its average volume of 1,465,234. The firm has a 50-day moving average price of $388.66 and a 200 day moving average price of $383.65. The stock has a market capitalization of $111.60 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the previous year, the business earned $6.55 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Evercore ISI raised their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Citigroup decreased their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.