First Community Trust NA Sells 1,401 Shares of Deere & Company $DE

Key Points

• First Community Trust NA reduced its shares in Deere & Company by 8.9%, selling 1,401 shares during the second quarter, and now holds 14,367 shares worth approximately $7.3 million.
• Deere & Company reported a quarterly earnings per share (EPS) of $4.75, surpassing estimates of $4.62, despite a 9% year-over-year decline in revenue.
• The company plans to pay a quarterly dividend of $1.62 per share on November 10th, representing an annual yield of 1.4% with a payout ratio of 33.87%.

First Community Trust NA trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,367 shares of the industrial products company's stock after selling 1,401 shares during the quarter. Deere & Company accounts for approximately 5.9% of First Community Trust NA's portfolio, making the stock its 4th largest holding. First Community Trust NA's holdings in Deere & Company were worth $7,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Roxbury Financial LLC increased its stake in shares of Deere & Company by 20.4% during the second quarter. Roxbury Financial LLC now owns 183 shares of the industrial products company's stock worth $93,000 after acquiring an additional 31 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Deere & Company by 4.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,465 shares of the industrial products company's stock worth $745,000 after acquiring an additional 67 shares during the period. RB Capital Management LLC increased its stake in shares of Deere & Company by 4.7% during the second quarter. RB Capital Management LLC now owns 2,185 shares of the industrial products company's stock worth $1,111,000 after acquiring an additional 98 shares during the period. TrueWealth Advisors LLC increased its stake in shares of Deere & Company by 21.7% during the second quarter. TrueWealth Advisors LLC now owns 1,005 shares of the industrial products company's stock worth $511,000 after acquiring an additional 179 shares during the period. Finally, McLean Asset Management Corp increased its stake in shares of Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock worth $283,000 after acquiring an additional 21 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.1%

DE stock opened at $471.35 on Friday. The company's 50 day simple moving average is $497.38 and its 200-day simple moving average is $490.32. The firm has a market capitalization of $127.42 billion, a PE ratio of 24.64, a P/E/G ratio of 3.06 and a beta of 1.00. Deere & Company has a 12 month low of $386.42 and a 12 month high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $6.29 earnings per share. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DE. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research report on Tuesday, August 19th. Citigroup lowered their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, DA Davidson lowered their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $520.87.

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.

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