1,610 Deere & Company $DE Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its Deere & Company stake by 7.5% in the third quarter, selling 1,610 shares and retaining 19,832 shares valued at approximately $13.3 million.
• Deere shares traded at $687.52, near their 52-week high, while the company reported quarterly revenue of $12.61 billion and adjusted earnings of $5.10 per share, both exceeding analyst expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $686.10 target price; Deere also declared a quarterly dividend of $1.62 per share, yielding about 0.9% annually.

Park National Corp OH decreased its position in shares of Deere & Company (NYSE:DE - Free Report) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,832 shares of the industrial products company's stock after selling 1,610 shares during the period. Park National Corp OH's holdings in Deere & Company were worth $13,318,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DE. BlackRock Inc. acquired a new position in shares of Deere & Company during the 2nd quarter valued at $11,763,504,000. State Street Corp lifted its holdings in shares of Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock valued at $4,898,717,000 after buying an additional 97,049 shares during the period. Capital World Investors boosted its stake in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Wellington Management Group LLP grew its holdings in Deere & Company by 84.3% during the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company's stock worth $1,959,209,000 after acquiring an additional 1,412,694 shares during the period. Finally, Bank of America Corp DE grew its holdings in Deere & Company by 0.3% during the first quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company's stock worth $1,567,327,000 after acquiring an additional 7,918 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.1%

Shares of Deere & Company stock traded up $0.52 during trading on Monday, hitting $687.52. The stock had a trading volume of 267,993 shares, compared to its average volume of 1,366,696. The stock has a 50 day simple moving average of $650.46 and a 200 day simple moving average of $606.48. The company has a market capitalization of $185.37 billion, a PE ratio of 38.17, a P/E/G ratio of 2.51 and a beta of 0.86. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Deere & Company has a 1 year low of $433.00 and a 1 year high of $721.22.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the firm earned $4.75 EPS. The firm's quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. Deere & Company's payout ratio is currently 36.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DE shares. Nomura raised shares of Deere & Company to a "buy" rating in a report on Monday, August 31st. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, September 21st. Robert W. Baird upgraded shares of Deere & Company from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $640.00 to $800.00 in a report on Monday, August 31st. Oppenheimer increased their target price on shares of Deere & Company from $680.00 to $685.00 and gave the company an "outperform" rating in a research note on Thursday, August 20th. Finally, Evercore upgraded shares of Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 target price for the company in a report on Wednesday, September 2nd. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $686.10.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company's products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

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