First Citizens Financial Corp Sells 38 Shares of Deere & Company (NYSE:DE)

First Citizens Financial Corp reduced its holdings in Deere & Company (NYSE:DE) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,063 shares of the industrial products company’s stock after selling 38 shares during the quarter. First Citizens Financial Corp’s holdings in Deere & Company were worth $499,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Capital World Investors increased its position in shares of Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after purchasing an additional 157,224 shares during the last quarter. FMR LLC increased its position in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC grew its position in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after acquiring an additional 97,203 shares during the last quarter. Finally, Norges Bank bought a new position in Deere & Company during the 4th quarter worth approximately $1,244,094,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on DE. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. Morgan Stanley raised their price target on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Truist Financial increased their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, Raymond James increased their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $516.75.

Deere & Company Trading Down 0.3%

DE opened at $507.89 on Thursday. The business has a 50 day moving average of $474.56 and a 200-day moving average of $460.54. The stock has a market cap of $137.85 billion, a PE ratio of 22.51, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.53 earnings per share. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.28%. Deere & Company’s payout ratio is 31.35%.

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.