2,851 Shares in Deere & Company $DE Acquired by AMG National Trust Bank

Key Points

• AMG National Trust Bank acquired 2,851 Deere & Company shares during the second quarter, valued at approximately $1.81 million. Institutional investors collectively own 68.58% of Deere’s stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and nine Holds. Deere has a “Moderate Buy” consensus rating and an average price target of $641.98.
• Deere exceeded quarterly expectations, reporting $6.55 in EPS and $13.37 billion in revenue, while revenue increased 5.4% year over year. The company also pays a quarterly dividend of $1.62, equivalent to a 1.1% annual yield.

AMG National Trust Bank bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,851 shares of the industrial products company's stock, valued at approximately $1,808,000.

Several other hedge funds have also modified their holdings of DE. Timmons Wealth Management LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $30,000. Portus Wealth Advisors LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $32,000. Wealth Watch Advisors INC purchased a new stake in Deere & Company in the third quarter valued at $32,000. Finally, SHP Wealth Management purchased a new stake in Deere & Company in the 4th quarter valued at about $33,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Seaport Research Partners set a $570.00 price target on Deere & Company in a report on Friday. Raymond James Financial reduced their target price on Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, May 22nd. Finally, Citigroup increased their price target on shares of Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $641.98.

Deere & Company Price Performance

Deere & Company stock opened at $608.73 on Monday. The firm has a market capitalization of $164.32 billion, a P/E ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The firm has a fifty day moving average of $603.23 and a 200-day moving average of $588.27. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.64 EPS. As a group, analysts predict that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company's payout ratio is presently 36.71%.

Deere & Company 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.

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