Stock Yards Bank & Trust Co. Purchases 545 Shares of Deere & Company $DE

Key Points

• Stock Yards Bank & Trust Co. increased its stake in Deere & Company by 5.9%, acquiring an additional 545 shares, bringing its total holdings to 9,845 shares valued at approximately $5 million.
• Analysts have reduced their price targets on Deere & Company, with the average target now at $518.18, reflecting a mix of "outperform" and "neutral" ratings.
• Deere & Company declared a quarterly dividend of $1.62 per share, with an annualized dividend yield of 1.4% and a payout ratio of 33.87% as of the latest reporting period.

Stock Yards Bank & Trust Co. grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,845 shares of the industrial products company's stock after acquiring an additional 545 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Deere & Company were worth $5,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Activest Wealth Management raised its holdings 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 valued at $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in Deere & Company during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the 2nd quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Daiwa Capital Markets decreased their price target on Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a report on Thursday, September 25th. Robert W. Baird reduced their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. JPMorgan Chase & Co. reduced their target price on Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 2nd. Wolfe Research reduced their target price on Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Oppenheimer reduced their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $518.18.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $462.59 on Friday. The firm has a market cap of $125.05 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.97 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock's fifty day moving average price is $484.64 and its 200-day moving average price is $489.09.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.29 earnings per share. On average, equities research analysts expect 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. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

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.

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