First National Bank & Trust Co. of Newtown Cuts Stake in Deere & Company $DE

First National Bank & Trust Co. of Newtown reduced its stake in shares of Deere & Company (NYSE:DE) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,587 shares of the industrial products company’s stock after selling 80 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Deere & Company were worth $807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in DE. Activest Wealth Management grew its holdings 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 purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the first quarter valued at $29,000. Cornerstone Planning Group LLC grew its holdings in shares of Deere & Company by 116.1% in the first 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 in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company in the second quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the second quarter valued at $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on DE shares. DA Davidson cut their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Robert W. Baird dropped their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Oppenheimer dropped their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Finally, Truist Financial dropped their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.06.

Deere & Company Stock Down 1.3%

Shares of NYSE:DE opened at $451.43 on Thursday. 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 business has a fifty day moving average of $486.80 and a two-hundred day moving average of $489.36. The stock has a market cap of $122.04 billion, a P/E ratio of 23.60, a PEG ratio of 2.94 and a beta of 1.03. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

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

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is currently 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.