Keybank National Association OH Lowers Holdings in Deere & Company (NYSE:DE)

Keybank National Association OH trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,996 shares of the industrial products company's stock after selling 2,027 shares during the period. Keybank National Association OH's holdings in Deere & Company were worth $25,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Deere & Company in the fourth quarter worth about $847,000. Stenger Family Office LLC bought a new stake in shares of Deere & Company in the fourth quarter worth about $3,144,000. First Business Financial Services Inc. bought a new stake in shares of Deere & Company in the fourth quarter worth about $4,254,000. Finally, Westpac Banking Corp increased its holdings in shares of Deere & Company by 17.9% in the fourth quarter. Westpac Banking Corp now owns 11,904 shares of the industrial products company's stock worth $5,044,000 after purchasing an additional 1,809 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DE. Truist Financial lifted their target price on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. UBS Group decreased their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Oppenheimer upped their price objective on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Evercore ISI upped their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average target price of $515.19.

Deere & Company Trading Up 2.4%

DE opened at $520.33 on Thursday. The stock has a market cap of $140.92 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 3.23 and a beta of 1.08. The stock's 50 day moving average price is $504.22 and its 200-day moving average price is $474.18. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

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, beating analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company's quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.53 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.32 EPS 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 $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.25%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

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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