Norway Savings Bank Decreases Holdings in Deere & Company (NYSE:DE)

Norway Savings Bank trimmed its holdings in Deere & Company (NYSE:DE) by 24.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,528 shares of the industrial products company’s stock after selling 488 shares during the quarter. Norway Savings Bank’s holdings in Deere & Company were worth $647,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DE. First County Bank CT grew its stake in shares of Deere & Company by 5.6% during the fourth quarter. First County Bank CT now owns 748 shares of the industrial products company’s stock valued at $317,000 after buying an additional 40 shares during the last quarter. Spartan Planning & Wealth Management bought a new position in Deere & Company during the 4th quarter worth approximately $206,000. Neville Rodie & Shaw Inc. increased its stake in Deere & Company by 3.5% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 4,425 shares of the industrial products company’s stock worth $1,875,000 after purchasing an additional 149 shares during the period. CWA Asset Management Group LLC lifted its position in Deere & Company by 1.0% in the fourth quarter. CWA Asset Management Group LLC now owns 41,579 shares of the industrial products company’s stock valued at $17,617,000 after purchasing an additional 396 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Deere & Company by 765.4% during the fourth quarter. Nordea Investment Management AB now owns 209,616 shares of the industrial products company’s stock valued at $88,969,000 after purchasing an additional 185,395 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock traded down $4.06 during trading hours on Tuesday, reaching $413.94. The company had a trading volume of 515,030 shares, compared to its average volume of 862,713. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The business has a fifty day moving average price of $427.49 and a 200-day moving average price of $399.08. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The firm has a market cap of $112.42 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. Sell-side 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 announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.57%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DE. Morgan Stanley upped their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $443.94.

Deere & Company Company Profile

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.