OLD National Bancorp IN Decreases Position in Deere & Company (NYSE:DE)

OLD National Bancorp IN cut its stake in Deere & Company (NYSE:DE) by 43.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,539 shares of the industrial products company’s stock after selling 19,742 shares during the quarter. OLD National Bancorp IN’s holdings in Deere & Company were worth $10,821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new position in Deere & Company in the 3rd quarter valued at about $32,000. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter valued at about $32,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter valued at about $35,000. Centennial Bank AR lifted its stake in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DE shares. Oppenheimer raised their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Citigroup decreased their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $444.50.

Deere & Company Stock Down 0.3 %

Deere & Company stock opened at $478.50 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a 50 day moving average price of $441.75 and a 200 day moving average price of $408.11. The company has a market capitalization of $130.32 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the firm earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. Research analysts expect that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

About Deere & Company

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.