OLD National Bancorp IN Cuts Stock Position in Deere & Company (NYSE:DE)

OLD National Bancorp IN reduced its position in Deere & Company (NYSE:DE) by 8.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,390 shares of the industrial products company’s stock after selling 2,149 shares during the quarter. OLD National Bancorp IN’s holdings in Deere & Company were worth $10,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter valued at about $1,244,094,000. GAMMA Investing LLC lifted its stake in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $541,437,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. DA Davidson reissued a “buy” rating and issued a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. UBS Group lowered their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Bank of America upped their price target on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Trading Up 1.7%

DE opened at $519.62 on Friday. The stock has a market cap of $140.73 billion, a PE ratio of 23.03, a PEG ratio of 2.14 and a beta of 1.09. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The business has a 50 day moving average of $479.20 and a 200-day moving average of $466.37. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $8.53 EPS. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is presently 31.35%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.