Deere & Company $DE Shares Sold by City State Bank

City State Bank lessened its holdings in Deere & Company (NYSE:DE) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,774 shares of the industrial products company’s stock after selling 97 shares during the quarter. City State Bank’s holdings in Deere & Company were worth $1,411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $25,000. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the period. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.8%

Shares of DE stock opened at $473.01 on Friday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock’s fifty day moving average is $469.88 and its two-hundred day moving average is $488.49. The firm has a market capitalization of $127.87 billion, a P/E ratio of 24.73, a PEG ratio of 3.02 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the firm earned $6.29 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

Analyst Ratings Changes

A number of research firms recently issued reports on DE. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Robert W. Baird dropped their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $518.72.

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.