Central Pacific Bank Trust Division Trims Position in Deere & Company (NYSE:DE)

Central Pacific Bank Trust Division decreased its holdings in Deere & Company (NYSE:DE) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,200 shares of the industrial products company’s stock after selling 800 shares during the period. Central Pacific Bank Trust Division’s holdings in Deere & Company were worth $3,051,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the third quarter worth $32,000. Modus Advisors LLC bought a new position in Deere & Company in the fourth quarter worth $32,000. Centennial Bank AR lifted its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. UBS Group upped their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. 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 research report on Friday, December 6th. Finally, Citigroup upped their price target on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $443.94.

Deere & Company Stock Performance

Shares of DE stock traded up $3.83 during mid-day trading on Friday, reaching $422.01. 392,802 shares of the company’s stock traded hands, compared to its average volume of 683,754. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The firm has a 50 day moving average price of $427.09 and a two-hundred day moving average price of $398.30. The firm has a market capitalization of $114.61 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. 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 (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating 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 business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the firm earned $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.54%. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Deere & 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.