Truist Financial Corp Boosts Stake in Deere & Company (NYSE:DE)

Truist Financial Corp lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 25.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,302 shares of the industrial products company's stock after buying an additional 36,420 shares during the period. Truist Financial Corp owned about 0.07% of Deere & Company worth $85,094,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Eukles Asset Management grew its position in Deere & Company by 5.2% during the 1st quarter. Eukles Asset Management now owns 2,724 shares of the industrial products company's stock worth $1,279,000 after acquiring an additional 135 shares during the last quarter. Strategic Blueprint LLC bought a new position in Deere & Company during the 1st quarter worth approximately $223,000. Catalyst Capital Advisors LLC grew its position in Deere & Company by 35.8% during the 1st quarter. Catalyst Capital Advisors LLC now owns 527 shares of the industrial products company's stock worth $247,000 after acquiring an additional 139 shares during the last quarter. IFM Investors Pty Ltd grew its position in Deere & Company by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 53,260 shares of the industrial products company's stock worth $24,998,000 after acquiring an additional 4,606 shares during the last quarter. Finally, Fisher Funds Management LTD grew its position in Deere & Company by 8.4% during the 1st quarter. Fisher Funds Management LTD now owns 40,956 shares of the industrial products company's stock worth $19,223,000 after acquiring an additional 3,157 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on DE. Morgan Stanley raised their price target on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Barclays lifted their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company Stock Down 0.5%

Shares of NYSE DE traded down $2.82 during mid-day trading on Friday, hitting $517.50. 470,313 shares of the stock traded hands, compared to its average volume of 1,356,782. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a market cap of $140.15 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.31 and a beta of 1.08. The stock has a fifty day moving average price of $506.47 and a 200-day moving average price of $475.58.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

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.