Peoples Bank OH Decreases Stock Position in Deere & Company (NYSE:DE)

Peoples Bank OH reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 30.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,822 shares of the industrial products company's stock after selling 793 shares during the quarter. Peoples Bank OH's holdings in Deere & Company were worth $855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the fourth quarter worth about $39,000. Citizens National Bank Trust Department bought a new stake in shares of Deere & Company in the first quarter worth about $45,000. Finally, Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter worth about $42,000. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DE. Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Raymond James Financial raised their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Evercore ISI raised their target price on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Morgan Stanley raised their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Finally, DA Davidson reissued a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $515.19.

Deere & Company Stock Down 1.4%

Shares of DE stock traded down $7.03 during trading hours on Friday, hitting $512.17. 1,046,929 shares of the company's stock traded hands, compared to its average volume of 1,347,582. The stock's fifty day simple moving average is $510.73 and its two-hundred day simple moving average is $478.69. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The stock has a market cap of $138.71 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.25 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the business earned $8.53 earnings per share. The business's revenue was down 17.9% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company's payout ratio is 31.35%.

Deere & 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.