United Bank Has $1.12 Million Stock Position in Deere & Company (NYSE:DE)

United Bank cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 43.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,389 shares of the industrial products company's stock after selling 1,846 shares during the quarter. United Bank's holdings in Deere & Company were worth $1,121,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DE. Assenagon Asset Management S.A. raised its stake in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after buying an additional 798 shares during the period. Stenger Family Office LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $3,144,000. Stratos Investment Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $271,000. Finally, Telos Capital Management Inc. grew its holdings in shares of Deere & Company by 28.2% during the 1st quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock worth $1,592,000 after purchasing an additional 746 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.6%

NYSE:DE traded up $7.92 during mid-day trading on Tuesday, reaching $504.16. 205,159 shares of the company's stock traded hands, compared to its average volume of 1,338,082. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The firm has a market capitalization of $136.54 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.17 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a 50 day moving average price of $512.85 and a 200-day moving average price of $481.48.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for 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 business's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.53 EPS. On average, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.29%. Deere & Company's dividend payout ratio (DPR) is 31.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. DA Davidson reissued a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Truist Financial boosted their target price on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Barclays upped their price target on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $515.50.

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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