Park National Corp OH Sells 5,030 Shares of Deere & Company (NYSE:DE)

Park National Corp OH decreased its position in shares of Deere & Company (NYSE:DE - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,625 shares of the industrial products company's stock after selling 5,030 shares during the quarter. Deere & Company comprises approximately 1.5% of Park National Corp OH's investment portfolio, making the stock its 14th biggest holding. Park National Corp OH's holdings in Deere & Company were worth $41,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Pineridge Advisors LLC lifted its holdings in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. YANKCOM Partnership bought a new position in Deere & Company in the fourth quarter valued at approximately $34,000. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company in the 4th quarter valued at $35,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the fourth quarter valued at about $39,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

NYSE:DE traded up $2.32 during mid-day trading on Friday, reaching $505.77. The stock had a trading volume of 1,686,451 shares, compared to its average volume of 1,404,510. The stock has a 50-day simple moving average of $475.54 and a two-hundred day simple moving average of $462.00. The stock has a market capitalization of $137.27 billion, a PE ratio of 22.42, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $10.80 billion. During the same quarter last year, the company posted $8.53 EPS. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Oppenheimer increased their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. Finally, Citigroup lowered their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $515.19.

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.