5,539 Shares in Deere & Company (NYSE:DE) Bought by First American Bank

First American Bank acquired a new stake in Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,539 shares of the industrial products company’s stock, valued at approximately $2,312,000.

A number of other hedge funds also recently made changes to their positions in DE. Diversified Trust Co lifted its stake in shares of Deere & Company by 10.2% in the first quarter. Diversified Trust Co now owns 4,448 shares of the industrial products company’s stock worth $1,827,000 after acquiring an additional 412 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Deere & Company by 21.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,916 shares of the industrial products company’s stock valued at $1,609,000 after buying an additional 683 shares during the last quarter. Claro Advisors LLC increased its stake in shares of Deere & Company by 18.1% in the first quarter. Claro Advisors LLC now owns 902 shares of the industrial products company’s stock worth $370,000 after buying an additional 138 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in Deere & Company by 31.1% in the first quarter. AlphaMark Advisors LLC now owns 135 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 32 shares in the last quarter. Finally, Cullinan Associates Inc. boosted its stake in Deere & Company by 48.1% during the 1st quarter. Cullinan Associates Inc. now owns 27,198 shares of the industrial products company’s stock valued at $11,171,000 after acquiring an additional 8,832 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $407.93 on Monday. The stock has a market cap of $112.41 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The stock’s 50-day moving average is $397.89 and its 200-day moving average is $385.17.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.20 EPS. Equities research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Ratings Changes

Several brokerages have recently commented on DE. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Truist Financial lifted their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $420.69.

About Deere & Company

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.