Hilltop National Bank Sells 332 Shares of Deere & Company (NYSE:DE)

Hilltop National Bank trimmed its position in Deere & Company (NYSE:DE) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,821 shares of the industrial products company’s stock after selling 332 shares during the quarter. Hilltop National Bank’s holdings in Deere & Company were worth $1,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. ST Germain D J Co. Inc. raised its holdings in Deere & Company by 16.0% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,524 shares of the industrial products company’s stock valued at $1,493,000 after buying an additional 486 shares during the period. Baker Tilly Wealth Management LLC boosted its holdings in shares of Deere & Company by 9.5% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 635 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 55 shares during the period. Legacy Private Trust Co. bought a new stake in shares of Deere & Company in the fourth quarter valued at about $247,000. Douglas Lane & Associates LLC boosted its stake in shares of Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 25 shares in the last quarter. Finally, Private Client Services LLC bought a new stake in Deere & Company during the 4th quarter valued at $203,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Oppenheimer lifted their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. 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 report on Friday, November 22nd. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup raised their price target on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, Truist Financial lifted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $443.94.

Deere & Company Trading Down 1.6 %

Shares of NYSE DE traded down $6.50 during trading on Friday, reaching $403.50. The stock had a trading volume of 243,421 shares, compared to its average volume of 880,783. The business’s 50-day moving average price is $427.83 and its 200-day moving average price is $399.49. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a market cap of $109.58 billion, a P/E ratio of 15.76, a PEG ratio of 1.91 and a beta of 0.98.

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

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.61%. 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 payout ratio is presently 25.31%.

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.