First Citizens Bank & Trust Co. Buys 335 Shares of Deere & Company (NYSE:DE)

First Citizens Bank & Trust Co. boosted its stake in shares of Deere & Company (NYSE:DE) by 15.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,517 shares of the industrial products company’s stock after purchasing an additional 335 shares during the period. First Citizens Bank & Trust Co.’s holdings in Deere & Company were worth $1,066,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in DE. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter worth about $32,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the third quarter worth about $32,000. Centennial Bank AR boosted its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. Continuum Advisory LLC boosted its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in Deere & Company during the third quarter worth about $47,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.9 %

Shares of NYSE DE opened at $478.90 on Monday. Deere & Company has a one year low of $340.20 and a one year high of $479.48. 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 firm’s 50 day simple moving average is $438.55 and its two-hundred day simple moving average is $406.05. The stock has a market capitalization of $130.43 billion, a P/E ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the business earned $8.26 earnings per share. The business’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 19.34 EPS for the current fiscal 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 given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Truist Financial increased their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Finally, UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.