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US Bancorp DE Sells 9,570 Shares of Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

Key Points

  • US Bancorp DE reduced its stake in Deere & Company by 3.5%, selling 9,570 shares during the first quarter, leaving it with a total of 260,132 shares valued at approximately $122 million.
  • Wall Street analysts have given Deere & Company a consensus rating of "Hold" with a target price averaging $515.50, following several upgrades from various firms.
  • Deere & Company reported a quarterly earnings per share (EPS) of $6.64, surpassing estimates, and declared a quarterly dividend of $1.62, reflecting a 1.2% dividend yield.
  • Interested in Deere & Company? Here are five stocks we like better.

US Bancorp DE lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,132 shares of the industrial products company's stock after selling 9,570 shares during the period. US Bancorp DE owned about 0.10% of Deere & Company worth $122,093,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter worth $42,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI upped their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. DA Davidson restated a "buy" rating and set a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. Barclays raised their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Raymond James Financial boosted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets restated a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One 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 data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $515.50.

Check Out Our Latest Analysis on DE

Deere & Company Price Performance

DE stock opened at $524.18 on Friday. The firm has a 50 day moving average of $512.43 and a 200-day moving average of $486.52. The firm has a market capitalization of $141.96 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

About Deere & Company

(Free Report)

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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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