Deere & Company $DE Stake Cut by Central Bank & Trust Co.

Central Bank & Trust Co. reduced its position in shares of Deere & Company (NYSE:DE) by 35.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,496 shares of the industrial products company’s stock after selling 1,914 shares during the period. Central Bank & Trust Co.’s holdings in Deere & Company were worth $2,348,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DE. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Deere & Company in the 2nd quarter worth approximately $27,000. Kilter Group LLC bought a new position in Deere & Company in the 2nd quarter worth approximately $29,000. Solstein Capital LLC bought a new position in shares of Deere & Company in the second quarter valued at approximately $30,000. Orion Capital Management LLC bought a new position in Deere & Company during the 2nd quarter valued at $32,000. Finally, Markowski Investments acquired a new stake in shares of Deere & Company in the second quarter valued at $34,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DE. Barclays lifted their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $585.00 to $625.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America boosted their target price on shares of Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. UBS Group decreased their price target on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a report on Friday, August 21st. Finally, Evercore upgraded Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 target price on the stock in a report on Wednesday, September 2nd. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Price Performance

DE stock traded down $23.42 during midday trading on Friday, reaching $629.16. 780,796 shares of the company’s stock traded hands, compared to its average volume of 1,361,460. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The company has a market cap of $169.63 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 2.40 and a beta of 0.86. The company has a 50-day simple moving average of $654.41 and a two-hundred day simple moving average of $609.32. Deere & Company has a 1-year low of $433.00 and a 1-year high of $721.22.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter last year, the company posted $4.75 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 18.12 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.