1ST Source Bank Has $2.73 Million Position in Deere & Company (NYSE:DE)

1ST Source Bank increased its position in shares of Deere & Company (NYSE:DE) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,549 shares of the industrial products company’s stock after acquiring an additional 112 shares during the quarter. 1ST Source Bank’s holdings in Deere & Company were worth $2,733,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fairscale Capital LLC bought a new stake in Deere & Company in the 2nd quarter valued at $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the third quarter worth about $32,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. Continuum Advisory LLC lifted its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Finally, Briaud Financial Planning Inc boosted its position in Deere & Company by 73.5% during the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup increased their price objective on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a report on Monday. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Truist Financial raised their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $443.28.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $1.53 during trading on Friday, hitting $437.95. 178,185 shares of the company were exchanged, compared to its average volume of 1,436,137. The company has a market cap of $119.82 billion, a PE ratio of 17.17, a P/E/G ratio of 1.91 and a beta of 0.96. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock has a 50 day moving average of $419.96 and a 200 day moving average of $392.05.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the firm earned $8.26 EPS. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.48%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

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.