Deere & Company (NYSE:DE) Stake Lessened by City Holding Co.

City Holding Co. decreased its holdings in shares of Deere & Company (NYSE:DE) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,425 shares of the industrial products company’s stock after selling 640 shares during the quarter. Deere & Company accounts for approximately 1.2% of City Holding Co.’s holdings, making the stock its 16th biggest position. City Holding Co.’s holdings in Deere & Company were worth $8,230,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DE. Everence Capital Management Inc. boosted its position in Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after purchasing an additional 7,300 shares during the last quarter. Stockbridge Partners LLC grew its stake in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after buying an additional 1,291 shares in the last quarter. Chase Investment Counsel Corp raised its position in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Czech National Bank lifted its stake in Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after acquiring an additional 2,964 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Citigroup decreased their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. UBS Group lifted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Truist Financial upped their price objective 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. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $442.83.

Deere & Company Stock Up 4.0 %

Shares of NYSE DE opened at $456.57 on Monday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The firm’s 50-day simple moving average is $431.48 and its 200 day simple moving average is $402.25. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market cap of $124.35 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

About Deere & Company

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.