Deere & Company $DE is First Community Trust NA's 4th Largest Position

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 decreased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 8.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 position. First Community Trust NA's holdings in Deere & Company were worth $7,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Deere & Company by 13.2% during the fourth quarter. ProShare Advisors LLC now owns 37,228 shares of the industrial products company's stock worth $15,774,000 after purchasing an additional 4,331 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of Deere & Company by 10.6% during the fourth quarter. Rafferty Asset Management LLC now owns 23,769 shares of the industrial products company's stock worth $10,071,000 after purchasing an additional 2,280 shares during the period. Scientech Research LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $1,349,000. Finally, Tema Etfs LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $333,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on DE shares. Robert W. Baird dropped their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $517.27.

Deere & Company Stock Down 0.9%

NYSE DE traded down $4.51 during mid-day trading on Friday, reaching $471.61. The stock had a trading volume of 658,754 shares, compared to its average volume of 1,364,265. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The company has a fifty day moving average price of $494.07 and a 200 day moving average price of $490.09. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market cap of $127.49 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00.

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

Deere & Company Dividend Announcement

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

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.