OLD Second National Bank of Aurora Boosts Holdings in Deere & Company (NYSE:DE)

OLD Second National Bank of Aurora lifted its holdings in shares of Deere & Company (NYSE:DE) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,237 shares of the industrial products company’s stock after acquiring an additional 29 shares during the period. OLD Second National Bank of Aurora’s holdings in Deere & Company were worth $2,186,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its position in Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after buying an additional 2,692 shares during the last quarter. Balentine LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth $710,000. Royal Fund Management LLC grew its position in shares of Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares during the last quarter. New Century Financial Group LLC acquired a new position in shares of Deere & Company in the third quarter valued at approximately $1,052,000. Finally, Manning & Napier Advisors LLC acquired a new position in Deere & Company in the second quarter valued at $24,984,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 2.2 %

DE opened at $393.83 on Wednesday. The business has a 50-day moving average of $403.52 and a 200-day moving average of $385.61. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a market capitalization of $107.75 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the firm earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DE. JPMorgan Chase & Co. lifted their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

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.