Security National Bank Buys 826 Shares of Deere & Company $DE

Key Points

• Security National Bank increased its stake in Deere & Company by 10.3%, purchasing an additional 826 shares and now holding 8,816 shares worth approximately $4.48 million.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, with an expected annual yield of 1.4% and a payout ratio of 33.87%.
• Analysts have reduced their price targets for Deere & Company, with Citigroup lowering theirs from $550 to $525, while the consensus price target currently stands at $517.27.

Security National Bank grew its holdings in Deere & Company (NYSE:DE - Free Report) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,816 shares of the industrial products company's stock after acquiring an additional 826 shares during the quarter. Security National Bank's holdings in Deere & Company were worth $4,483,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management grew its position in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company in the first quarter worth $29,000. Cornerstone Planning Group LLC increased its stake in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the second quarter worth about $39,000. Finally, Orion Capital Management LLC purchased a new stake in Deere & Company in the fourth quarter worth about $34,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.4%

DE stock traded up $1.88 during mid-day trading on Tuesday, reaching $470.91. 195,170 shares of the stock traded hands, compared to its average volume of 1,371,353. The company has a market cap of $127.30 billion, a P/E ratio of 24.62, a P/E/G ratio of 3.02 and a beta of 1.00. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock's fifty day moving average is $492.45 and its 200-day moving average is $490.16.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the business earned $6.29 earnings per share. Deere & Company's revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, sell-side analysts expect 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 Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's payout ratio is presently 33.87%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DE shares. DA Davidson lowered their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Oppenheimer cut their target price on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $517.27.

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.