First International Bank & Trust Sells 252 Shares of Deere & Company (NYSE:DE)

First International Bank & Trust cut its holdings in Deere & Company (NYSE:DE) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,022 shares of the industrial products company’s stock after selling 252 shares during the period. First International Bank & Trust’s holdings in Deere & Company were worth $857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. Fairscale Capital LLC bought a new position in Deere & Company during the second quarter valued at $26,000. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 3rd quarter valued at $32,000. Modus Advisors LLC bought a new position in shares of Deere & Company during the 4th quarter worth $32,000. Centennial Bank AR increased its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DE has been the subject of several recent research reports. Barclays lifted their target price 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. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Truist Financial boosted 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. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price target on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $443.94.

Deere & Company Price Performance

DE stock opened at $409.70 on Friday. The firm has a 50 day simple moving average of $427.83 and a two-hundred day simple moving average of $399.49. The stock has a market cap of $111.26 billion, a PE ratio of 16.00, a P/E/G ratio of 1.91 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

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

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

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.