City Holding Co. Has $8.37 Million Stock Holdings in Deere & Company (NYSE:DE)

City Holding Co. lessened its position in Deere & Company (NYSE:DE) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,065 shares of the industrial products company’s stock after selling 671 shares during the period. Deere & Company makes up about 1.2% of City Holding Co.’s investment portfolio, making the stock its 18th biggest holding. City Holding Co.’s holdings in Deere & Company were worth $8,373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Atomi Financial Group Inc. increased its stake in Deere & Company by 25.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,697 shares of the industrial products company’s stock worth $708,000 after purchasing an additional 349 shares in the last quarter. Marion Wealth Management lifted its stake in Deere & Company by 6.3% in the 3rd quarter. Marion Wealth Management now owns 3,611 shares of the industrial products company’s stock valued at $1,507,000 after acquiring an additional 215 shares in the last quarter. Advance Capital Management Inc. bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $217,000. Evanson Asset Management LLC bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $247,000. Finally, Chapin Davis Inc. lifted its position in shares of Deere & Company by 5.2% in the third quarter. Chapin Davis Inc. now owns 1,828 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 91 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $400.34 on Wednesday. The stock’s 50-day moving average is $383.66 and its 200-day moving average is $385.15. The stock has a market cap of $110.32 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the firm earned $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

DE has been the subject of a number of analyst reports. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Citigroup lowered their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $410.50.

Deere & 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.