Deere & Company (NYSE:DE) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services lessened its position in shares of Deere & Company (NYSE:DE) by 24.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,309 shares of the industrial products company’s stock after selling 4,346 shares during the quarter. Deere & Company makes up about 1.5% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 29th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Deere & Company were worth $6,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Deere & Company in the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company in the 4th quarter valued at about $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at about $42,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Deere & Company during the 4th quarter worth about $43,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays increased their target price on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Citigroup reduced their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Finally, Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Trading Up 0.3%

Shares of NYSE DE opened at $521.63 on Tuesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a market cap of $141.27 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock’s 50 day simple moving average is $480.22 and its 200 day simple moving average is $467.10.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

About Deere & Company

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.