Baker Boyer National Bank Sells 323 Shares of Deere & Company (NYSE:DE)

Baker Boyer National Bank lessened its stake in Deere & Company (NYSE:DE) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,687 shares of the industrial products company’s stock after selling 323 shares during the period. Deere & Company comprises 0.5% of Baker Boyer National Bank’s portfolio, making the stock its 21st biggest holding. Baker Boyer National Bank’s holdings in Deere & Company were worth $1,378,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in DE. Vanguard Group Inc. raised its stake in shares of Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares in the last quarter. Janus Henderson Group PLC increased its stake in Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after acquiring an additional 19,200 shares during the period. Parnassus Investments LLC raised its position in Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Norges Bank bought a new position in Deere & Company during the fourth quarter worth about $1,248,036,000. Finally, Fisher Asset Management LLC boosted its holdings in Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after purchasing an additional 150,713 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DE shares. BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, TD Cowen boosted their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $414.11.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Deere & Company Price Performance

Deere & Company stock opened at $381.56 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $104.39 billion, a P/E ratio of 11.49, a PEG ratio of 1.27 and a beta of 0.92. The business has a 50-day moving average of $369.04 and a 200-day moving average of $380.68. Deere & Company has a 1 year low of $340.20 and a 1 year high of $417.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the company earned $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. Deere & Company’s payout ratio is 17.70%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.