OLD National Bancorp IN Sells 1,123 Shares of Deere & Company $DE

OLD National Bancorp IN decreased its position in Deere & Company (NYSE:DE) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,657 shares of the industrial products company’s stock after selling 1,123 shares during the quarter. OLD National Bancorp IN’s holdings in Deere & Company were worth $10,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 150 shares during the last quarter. Jump Financial LLC purchased a new stake in Deere & Company during the second quarter valued at about $2,153,000. NewEdge Advisors LLC boosted its position in Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after buying an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC grew its stake in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DE. UBS Group lifted their price objective on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Bank of America raised their price target on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Wolfe Research lifted their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Morgan Stanley increased their price objective on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Barclays lifted their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Stock Performance

NYSE:DE opened at $586.17 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The firm’s fifty day simple moving average is $594.50 and its 200 day simple moving average is $524.44. The stock has a market cap of $158.33 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 2.05 and a beta of 0.98. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. The business had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 EPS. As a group, research analysts predict that Deere & Company will post 18 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s payout ratio is presently 36.53%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.