Central Bank & Trust Co. Sells 259 Shares of Deere & Company (NYSE:DE)

Central Bank & Trust Co. decreased its position in Deere & Company (NYSE:DE) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,032 shares of the industrial products company’s stock after selling 259 shares during the period. Central Bank & Trust Co.’s holdings in Deere & Company were worth $2,831,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Robertson Stephens Wealth Management LLC increased its stake in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares in the last quarter. Quent Capital LLC increased its stake in shares of Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares in the last quarter. Coppell Advisory Solutions LLC increased its stake in shares of Deere & Company by 2.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 25 shares in the last quarter. Finally, Glen Eagle Advisors LLC increased its stake in shares of Deere & Company by 0.9% in the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock worth $1,244,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.7%

Shares of DE opened at $519.62 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a 50-day moving average of $479.20 and a 200 day moving average of $466.37. The firm has a market capitalization of $140.73 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.14 and a beta of 1.09. 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 (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the business posted $8.53 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DE shares. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. DA Davidson reiterated a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $515.19.

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.