First Citizens Financial Corp Cuts Stock Holdings in Deere & Company (NYSE:DE)

First Citizens Financial Corp cut its position in shares of Deere & Company (NYSE:DEFree Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,101 shares of the industrial products company’s stock after selling 42 shares during the period. First Citizens Financial Corp’s holdings in Deere & Company were worth $466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stockbridge Partners LLC grew its position in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Toronto Dominion Bank boosted its position in Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp raised its stake in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares during the period. Finally, Balentine LLC purchased a new position in shares of Deere & Company during the 3rd quarter valued at approximately $710,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock traded up $3.04 during mid-day trading on Friday, hitting $421.22. The stock had a trading volume of 255,401 shares, compared to its average volume of 620,582. The firm has a market cap of $114.39 billion, a PE ratio of 16.45, a PEG ratio of 1.91 and a beta of 0.98. The company’s 50-day simple moving average is $427.09 and its 200-day simple moving average is $398.30. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.26 EPS. Sell-side analysts anticipate that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DE. Morgan Stanley raised their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $443.94.

Check Out Our Latest Analysis on Deere & Company

Deere & Company Profile

(Free Report)

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.

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

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