Baker Boyer National Bank Sells 661 Shares of Deere & Company (NYSE:DE)

Baker Boyer National Bank cut its position in Deere & Company (NYSE:DE - Free Report) by 22.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,304 shares of the industrial products company's stock after selling 661 shares during the quarter. Deere & Company accounts for about 0.4% of Baker Boyer National Bank's portfolio, making the stock its 21st largest holding. Baker Boyer National Bank's holdings in Deere & Company were worth $1,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Deere & Company during the fourth quarter worth $1,244,094,000. GAMMA Investing LLC boosted its holdings in shares of Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Deere & Company during the 4th quarter worth $541,437,000. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Finally, FMR LLC increased its holdings in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 0.5%

Shares of DE stock traded down $2.82 during mid-day trading on Friday, hitting $517.50. The company's stock had a trading volume of 470,313 shares, compared to its average volume of 1,356,450. The company has a market cap of $140.15 billion, a PE ratio of 25.04, a P/E/G ratio of 3.31 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company's fifty day simple moving average is $505.29 and its 200-day simple moving average is $474.73. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter last year, the firm posted $8.53 earnings per share. The firm's revenue was down 17.9% on a year-over-year basis. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company's dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. UBS Group cut their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Oppenheimer upped their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Bank of America lifted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $515.19.

Deere & Company Company Profile

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.