UMB Bank n.a. Reduces Stock Holdings in Deere & Company (NYSE:DE)

UMB Bank n.a. lowered its position in Deere & Company (NYSE:DE) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,598 shares of the industrial products company’s stock after selling 1,725 shares during the quarter. UMB Bank n.a.’s holdings in Deere & Company were worth $8,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DE. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company during the fourth quarter worth about $33,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Deere & Company during the second quarter worth about $37,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Raymond James started coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $416.94.

Deere & Company Stock Performance

NYSE:DE opened at $405.85 on Friday. The firm’s fifty day moving average price is $384.91 and its 200 day moving average price is $385.30. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market cap of $111.84 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 EPS. On average, sell-side analysts expect that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The business 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 dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s payout ratio is currently 17.70%.

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.