First Interstate Bank Sells 25 Shares of Deere & Company $DE

First Interstate Bank lowered its stake in Deere & Company (NYSE:DE) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,967 shares of the industrial products company’s stock after selling 25 shares during the period. First Interstate Bank’s holdings in Deere & Company were worth $1,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Brighton Jones LLC lifted its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. GAMMA Investing LLC lifted its position in Deere & Company by 30.6% in the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock valued at $1,753,000 after purchasing an additional 876 shares during the last quarter. Advisor Resource Council bought a new stake in Deere & Company in the first quarter valued at approximately $270,000. Appleton Partners Inc. MA lifted its position in Deere & Company by 21.1% in the first quarter. Appleton Partners Inc. MA now owns 1,148 shares of the industrial products company’s stock valued at $539,000 after purchasing an additional 200 shares during the last quarter. Finally, GAM Holding AG lifted its position in Deere & Company by 16.0% in the first quarter. GAM Holding AG now owns 3,778 shares of the industrial products company’s stock valued at $1,773,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.3%

NYSE DE opened at $458.63 on Monday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock has a market cap of $123.98 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.95 and a beta of 1.02. The stock’s fifty day moving average price is $473.24 and its 200-day moving average price is $487.89. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the prior year, the firm posted $6.29 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio is currently 33.87%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Jefferies Financial Group reduced their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. UBS Group set a $535.00 target price on Deere & Company and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, Truist Financial boosted their target price on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $517.35.

Deere & 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.