Park National Corp OH Sells 1,610 Shares of Deere & Company $DE

Park National Corp OH decreased its position in shares of Deere & Company (NYSE:DE) by 7.5% in the third quarter, Holdings Channel.com reports. The firm owned 19,832 shares of the industrial products company’s stock after selling 1,610 shares during the period. Park National Corp OH’s holdings in Deere & Company were worth $13,318,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Deere & Company during the 2nd quarter valued at about $27,000. Kilter Group LLC bought a new position in Deere & Company during the second quarter valued at approximately $29,000. Solstein Capital LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $30,000. Portus Wealth Advisors LLC acquired a new stake in Deere & Company in the first quarter valued at approximately $32,000. Finally, Orion Capital Management LLC bought a new stake in Deere & Company in the second quarter worth approximately $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

DE traded up $0.52 during trading on Monday, hitting $687.52. The stock had a trading volume of 267,993 shares, compared to its average volume of 1,366,696. The firm has a market cap of $185.37 billion, a PE ratio of 38.17, a P/E/G ratio of 2.51 and a beta of 0.86. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 12 month low of $433.00 and a 12 month high of $721.22. The company has a 50 day simple moving average of $650.46 and a 200-day simple moving average of $606.48.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.75 earnings per share. Analysts expect that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s payout ratio is currently 36.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Evercore upgraded shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target on the stock in a report on Wednesday, September 2nd. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Bank of America raised their target price on Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. Finally, Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $640.00 to $800.00 in a research note on Monday, August 31st. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $686.10.

Deere & Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.