Hilltop National Bank Takes $1.83 Million Position in Deere & Company $DE

Hilltop National Bank acquired a new stake in Deere & Company (NYSE:DE) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,590 shares of the industrial products company’s stock, valued at approximately $1,825,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Deere & Company during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC lifted its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in shares of Deere & Company in the second quarter valued at about $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the second quarter valued at about $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Oppenheimer dropped their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Finally, Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $518.06.

Deere & Company Price Performance

Shares of DE opened at $461.88 on Friday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The business’s fifty day moving average is $485.74 and its 200 day moving average is $489.22. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a market cap of $124.86 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.91 and a beta of 1.03.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.29 EPS. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

Deere & Company 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.