UMB Bank n.a. Sells 154 Shares of Deere & Company (NYSE:DE)

UMB Bank n.a. reduced its stake in Deere & Company (NYSE:DE) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,872 shares of the industrial products company’s stock after selling 154 shares during the quarter. UMB Bank n.a.’s holdings in Deere & Company were worth $8,388,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the fourth quarter valued at $39,000. Dogwood Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at $42,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Deere & Company during the 4th quarter worth about $43,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $519.62 on Monday. The firm has a 50-day moving average price of $479.20 and a two-hundred day moving average price of $466.58. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a market capitalization of $140.73 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.14 and a beta of 1.09. 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 released its quarterly earnings results 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. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 earnings per share. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. Deere & Company’s payout ratio is 31.35%.

Analyst Ratings Changes

DE has been the subject of several analyst reports. Oppenheimer raised their price objective on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Citigroup reduced their price target on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. DA Davidson reiterated a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.