First National Bank of Mount Dora Trust Investment Services Sells 120 Shares of Deere & Company $DE

First National Bank of Mount Dora Trust Investment Services lessened its holdings in Deere & Company (NYSE:DE) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,189 shares of the industrial products company’s stock after selling 120 shares during the quarter. Deere & Company makes up 1.5% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 22nd largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Deere & Company were worth $6,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OLD National Bancorp IN grew its position in shares of Deere & Company by 2.6% during the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after buying an additional 610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC boosted its position in Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc boosted its position in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in Deere & Company during the first quarter valued at about $13,588,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research analyst reports. Daiwa Capital Markets decreased their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Wolfe Research reduced their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Truist Financial raised their price objective on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lowered their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.76.

Deere & Company Stock Performance

NYSE DE opened at $456.98 on Friday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market capitalization of $123.54 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02. The stock’s fifty day moving average is $474.28 and its two-hundred day moving average is $487.62.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.29 EPS. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is currently 33.87%.

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.