Park National Corp OH Decreases Stock Holdings in Deere & Company (NYSE:DE)

Park National Corp OH lessened its holdings in Deere & Company (NYSE:DE) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,655 shares of the industrial products company’s stock after selling 4,239 shares during the quarter. Deere & Company makes up about 1.5% of Park National Corp OH’s holdings, making the stock its 16th largest position. Park National Corp OH’s holdings in Deere & Company were worth $39,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. FMR LLC lifted its holdings in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the period. International Assets Investment Management LLC grew its stake in Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after buying an additional 770,451 shares during the last quarter. Finally, Stockbridge Partners LLC increased its position in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.1 %

Shares of DE opened at $413.24 on Wednesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $112.23 billion, a P/E ratio of 16.14, a PEG ratio of 1.91 and a beta of 0.98. The firm’s 50-day moving average is $427.63 and its two-hundred day moving average is $399.34.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 EPS. On average, research analysts predict that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DE shares. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial upped their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer raised their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Citigroup upped their price objective on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $443.94.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.