Stock Yards Bank & Trust Co. Sells 588 Shares of Deere & Company (NYSE:DE)

Stock Yards Bank & Trust Co. lowered its holdings in Deere & Company (NYSE:DE - Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,300 shares of the industrial products company's stock after selling 588 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Deere & Company were worth $4,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. BNC Wealth Management LLC increased its position in shares of Deere & Company by 1,396.5% in the first quarter. BNC Wealth Management LLC now owns 9,039 shares of the industrial products company's stock valued at $4,242,000 after acquiring an additional 8,435 shares during the last quarter. Everhart Financial Group Inc. increased its position in shares of Deere & Company by 8.0% during the 1st quarter. Everhart Financial Group Inc. now owns 2,060 shares of the industrial products company's stock worth $967,000 after purchasing an additional 153 shares during the last quarter. Jacksonville Wealth Management LLC raised its stake in shares of Deere & Company by 0.7% during the 1st quarter. Jacksonville Wealth Management LLC now owns 5,989 shares of the industrial products company's stock worth $2,811,000 after purchasing an additional 39 shares in the last quarter. Smithbridge Asset Management Inc. DE acquired a new stake in shares of Deere & Company in the 1st quarter valued at approximately $201,000. Finally, Donald L. Hagan LLC boosted its holdings in shares of Deere & Company by 2.8% in the 1st quarter. Donald L. Hagan LLC now owns 2,973 shares of the industrial products company's stock valued at $1,395,000 after buying an additional 81 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial upped their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Evercore ISI lifted their price target on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Barclays upped their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Raymond James lifted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One investment 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 stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Hold" and a consensus target price of $515.19.

Deere & Company Stock Performance

Shares of DE stock traded down $7.82 during trading hours on Friday, reaching $509.04. The company had a trading volume of 824,497 shares, compared to its average volume of 1,394,113. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business has a fifty day moving average price of $487.24 and a 200-day moving average price of $468.51. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The firm has a market cap of $137.86 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.

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 for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company's revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $8.53 EPS. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

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.