Deere & Company (NYSE:DE) Shares Sold by Norway Savings Bank

Norway Savings Bank trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 43.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 865 shares of the industrial products company's stock after selling 663 shares during the period. Norway Savings Bank's holdings in Deere & Company were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company during the fourth quarter valued at $39,000. Dogwood Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter valued at $42,000. Wood Tarver Financial Group LLC bought a new stake in Deere & Company during the fourth quarter valued at $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Deere & Company during the fourth quarter valued at $48,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.8%

NYSE DE traded down $4.32 on Friday, hitting $520.66. 1,387,433 shares of the stock were exchanged, compared to its average volume of 1,386,710. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock has a fifty day moving average price of $495.13 and a two-hundred day moving average price of $470.66. The firm has a market capitalization of $141.01 billion, a P/E ratio of 25.19, a P/E/G ratio of 3.31 and a beta of 1.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the company earned $8.53 earnings per share. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Robert W. Baird upped their target price on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Oppenheimer lifted their price objective on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, DA Davidson restated a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $515.19.

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.