First National Bank of Mount Dora Trust Investment Services Cuts Position in Deere & Company (NYSE:DE)

First National Bank of Mount Dora Trust Investment Services decreased its position in Deere & Company (NYSE:DE - Free Report) by 24.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,309 shares of the industrial products company's stock after selling 4,346 shares during the quarter. Deere & Company comprises approximately 1.5% of First National Bank of Mount Dora Trust Investment Services' investment portfolio, making the stock its 29th biggest position. First National Bank of Mount Dora Trust Investment Services' holdings in Deere & Company were worth $6,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the 4th quarter valued at about $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $42,000. Finally, Wood Tarver Financial Group LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America lifted their target price on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Evercore ISI increased their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Oppenheimer boosted their price objective on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday. Finally, BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $515.19.

Deere & Company Stock Down 1.2%

NYSE:DE traded down $6.27 during trading hours on Tuesday, hitting $515.42. 1,294,039 shares of the company traded hands, compared to its average volume of 1,396,379. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market cap of $139.59 billion, a PE ratio of 22.85, a PEG ratio of 2.14 and a beta of 1.09. The firm's 50-day simple moving average is $480.22 and its 200-day simple moving average is $467.10.

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 analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the previous year, the business posted $8.53 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. Deere & Company's dividend payout ratio is currently 31.35%.

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.