First American Bank Buys 196 Shares of Deere & Company (NYSE:DE)

First American Bank increased its stake in Deere & Company (NYSE:DE) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,231 shares of the industrial products company’s stock after acquiring an additional 196 shares during the period. First American Bank’s holdings in Deere & Company were worth $2,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company during the 4th quarter valued at approximately $39,000. Dogwood Wealth Management LLC bought a new position in Deere & Company during the 4th quarter valued at approximately $42,000. Wood Tarver Financial Group LLC bought a new position in Deere & Company during the 4th quarter valued at approximately $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Deere & Company during the 4th quarter valued at approximately $48,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group lowered their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Robert W. Baird increased their target price on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Oppenheimer increased their target price on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $515.19.

Deere & Company Stock Performance

Shares of DE opened at $520.66 on Friday. The business’s fifty day simple moving average is $495.13 and its two-hundred day simple moving average is $470.56. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a market cap of $141.01 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.33 and a beta of 1.09.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the business posted $8.53 EPS. The company’s revenue was down 17.9% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company 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 dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. 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.