Deere & Company (NYSE:DE) Stock Holdings Decreased by First United Bank & Trust

First United Bank & Trust lessened its holdings in shares of Deere & Company (NYSE:DE) by 3.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 706 shares of the industrial products company’s stock after selling 23 shares during the quarter. First United Bank & Trust’s holdings in Deere & Company were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in Deere & Company during the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company during the fourth quarter valued at approximately $39,000. Dogwood Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $42,000. Wood Tarver Financial Group LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $43,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $44,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.0%

Shares of Deere & Company stock opened at $520.72 on Thursday. The stock has a market capitalization of $141.03 billion, a P/E ratio of 23.08, a price-to-earnings-growth 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. The company has a 50-day simple moving average of $483.40 and a 200 day simple moving average of $467.81. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.

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 during 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 company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $8.53 EPS. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company’s dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Citigroup dropped their price target 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. UBS Group decreased their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Finally, Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.