Truist Financial Corp Sells 11,975 Shares of Deere & Company $DE

Key Points

• Truist Financial reduced its Deere stake by 5.3%, selling 11,975 shares in Q4 and now holds 213,403 shares worth about $99.35 million (≈0.08% of the company).
• Analysts have lifted targets—Morgan Stanley to $730 and UBS to $775—leaving a MarketBeat consensus rating of "Moderate Buy" with a consensus target of $655.45.
• Deere topped quarterly estimates with $2.42 EPS and $9.61B revenue, and announced a quarterly dividend of $1.62 per share (annualized $6.48, yield 1.1%) payable May 8.

Truist Financial Corp reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 5.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 213,403 shares of the industrial products company's stock after selling 11,975 shares during the period. Truist Financial Corp owned about 0.08% of Deere & Company worth $99,354,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DE. Strategic Advocates LLC bought a new position in shares of Deere & Company in the third quarter valued at about $25,000. Key Capital Management INC bought a new stake in Deere & Company during the 4th quarter worth about $27,000. Activest Wealth Management grew its holdings in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock worth $30,000 after acquiring an additional 27 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in Deere & Company in the 3rd quarter valued at about $32,000. Finally, High Point Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $41,000. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DE. Morgan Stanley upped their target price on shares of Deere & Company from $560.00 to $730.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. UBS Group raised their price target on shares of Deere & Company from $535.00 to $775.00 and gave the company a "buy" rating in a report on Friday, February 20th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. Finally, Citigroup decreased their price objective on Deere & Company from $675.00 to $625.00 and set a "neutral" rating on the stock in a research report on Monday, March 9th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $655.45.

Deere & Company Stock Performance

Shares of DE opened at $577.66 on Tuesday. The firm has a 50-day moving average of $590.37 and a 200-day moving average of $530.04. The company has a market cap of $156.03 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a one year low of $433.00 and a one year high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 EPS. As a group, equities analysts forecast that Deere & Company will post 18.01 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, May 8th. Investors of record on Tuesday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend payout ratio is presently 36.53%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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