Fulton Bank N.A. Sells 2,270 Shares of Deere & Company (NYSE:DE)

Fulton Bank N.A. trimmed its position in Deere & Company (NYSE:DE) by 57.2% in the first quarter, HoldingsChannel reports. The firm owned 1,698 shares of the industrial products company’s stock after selling 2,270 shares during the quarter. Fulton Bank N.A.’s holdings in Deere & Company were worth $797,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc bought a new stake in Deere & Company in the 4th quarter worth about $254,000. Banque Pictet & Cie SA grew its position in Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after purchasing an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC grew its position in Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after purchasing an additional 1,407 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Deere & Company in the 4th quarter worth about $847,000. Finally, BankPlus Trust Department bought a new stake in Deere & Company in the 4th quarter worth about $1,127,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.2%

Shares of NYSE:DE opened at $513.86 on Wednesday. The firm has a fifty day moving average price of $476.71 and a two-hundred day moving average price of $464.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a market cap of $139.47 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.14 and a beta of 1.08.

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

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DE shares. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Raymond James boosted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Citigroup dropped their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, DA Davidson reiterated a “buy” rating and issued a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $515.19.

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.