Deere & Company (NYSE:DE) Stake Lifted by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora increased its stake in Deere & Company (NYSE:DE) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,256 shares of the industrial products company’s stock after acquiring an additional 1,008 shares during the period. OLD Second National Bank of Aurora’s holdings in Deere & Company were worth $2,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pinnacle Associates Ltd. lifted its stake in Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after acquiring an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Deere & Company by 6.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after acquiring an additional 900 shares in the last quarter. Centric Wealth Management purchased a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $2,640,000. Finally, Graham Capital Management L.P. lifted its position in shares of Deere & Company by 483.3% in the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock valued at $6,604,000 after acquiring an additional 14,500 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Citigroup dropped their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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 investment 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.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

Deere & Company stock traded up $4.96 during mid-day trading on Thursday, reaching $401.84. The company had a trading volume of 248,550 shares, compared to its average volume of 1,483,297. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a 50 day moving average of $385.17 and a 200-day moving average of $382.66. The firm has a market cap of $111.86 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share 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 firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period in the prior year, the firm earned $6.55 EPS. The business’s revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 27.39 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Deere & 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.