Hilltop National Bank Makes New $1.83 Million Investment in Deere & Company $DE

Hilltop National Bank purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,590 shares of the industrial products company's stock, valued at approximately $1,825,000.

A number of other hedge funds also recently bought and sold shares of DE. Nuveen LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth $571,073,000. Voya Investment Management LLC raised its holdings in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company's stock valued at $344,442,000 after buying an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Invesco Ltd. increased its stake in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock worth $635,150,000 after acquiring an additional 256,806 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Deere & Company by 874.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company's stock worth $124,028,000 after buying an additional 218,893 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DE. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a report on Tuesday, September 2nd. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Daiwa Capital Markets reduced their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a report on Thursday, September 25th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Truist Financial cut their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $518.06.

Deere & Company Stock Performance

DE stock opened at $461.88 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a market cap of $124.86 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.91 and a beta of 1.03. The firm has a 50 day simple moving average of $485.74 and a 200 day simple moving average of $489.22. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78.

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

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

About Deere & Company

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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