First American Trust FSB Acquires 5,925 Shares of Deere & Company (DE)
First American Trust FSB grew its holdings in Deere & Company (NYSE:DE) by 30.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,512 shares of the industrial products company’s stock after acquiring an additional 5,925 shares during the period. First American Trust FSB’s holdings in Deere & Company were worth $3,805,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Moody National Bank Trust Division raised its position in shares of Deere & Company by 79.2% during the 4th quarter. Moody National Bank Trust Division now owns 475 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 210 shares during the period. Whitener Capital Management Inc. bought a new stake in shares of Deere & Company during the 3rd quarter valued at $105,000. Patten Group Inc. bought a new stake in Deere & Company in the 3rd quarter valued at $114,000. Amussen Hunsaker Associates LLC bought a new stake in Deere & Company in the 2nd quarter valued at $122,000. Finally, SRS Capital Advisors Inc. bought a new stake in Deere & Company in the 3rd quarter valued at $141,000. Institutional investors and hedge funds own 66.13% of the company’s stock.
DE traded down $0.97 on Friday, reaching $158.15. 123,657 shares of the company traded hands, compared to its average volume of 2,224,626. Deere & Company has a one year low of $128.32 and a one year high of $175.26. The firm has a market capitalization of $49.17 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.51 and a beta of 0.89. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.92 and a quick ratio of 1.67.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Monday, December 31st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $3.04 annualized dividend and a dividend yield of 1.92%. This is a positive change from Deere & Company’s previous quarterly dividend of $0.69. Deere & Company’s payout ratio is currently 32.37%.
A number of brokerages have issued reports on DE. Robert W. Baird set a $165.00 price target on shares of Deere & Company and gave the company a “buy” rating in a report on Friday, November 23rd. UBS Group set a $177.00 price target on shares of Deere & Company and gave the company a “buy” rating in a report on Friday, November 23rd. Zacks Investment Research reiterated a “hold” rating on shares of Deere & Company in a report on Tuesday, November 13th. Credit Suisse Group reiterated a “buy” rating and issued a $211.00 price target on shares of Deere & Company in a report on Tuesday. Finally, William Blair reiterated a “hold” rating on shares of Deere & Company in a report on Friday, November 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. Deere & Company has a consensus rating of “Buy” and an average price target of $177.03.
In other news, CFO Rajesh Kalathur sold 11,133 shares of the business’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the sale, the chief financial officer now owns 42,244 shares in the company, valued at approximately $6,398,698.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.74% of the company’s stock.
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About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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