First Community Trust NA Sells 200 Shares of Deere & Company (NYSE:DE)

First Community Trust NA reduced its position in Deere & Company (NYSE:DE) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,400 shares of the industrial products company’s stock after selling 200 shares during the quarter. Deere & Company comprises about 4.6% of First Community Trust NA’s portfolio, making the stock its 5th largest position. First Community Trust NA’s holdings in Deere & Company were worth $5,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Abacus Planning Group Inc. raised its holdings in shares of Deere & Company by 2.0% during the 3rd quarter. Abacus Planning Group Inc. now owns 2,900 shares of the industrial products company’s stock worth $1,210,000 after buying an additional 58 shares in the last quarter. Ables Iannone Moore & Associates Inc. grew its position in Deere & Company by 4.2% in the third quarter. Ables Iannone Moore & Associates Inc. now owns 4,866 shares of the industrial products company’s stock valued at $2,030,000 after acquiring an additional 196 shares during the last quarter. Jacobs & Co. CA raised its stake in Deere & Company by 7.5% during the third quarter. Jacobs & Co. CA now owns 33,229 shares of the industrial products company’s stock worth $13,867,000 after acquiring an additional 2,312 shares in the last quarter. Alternative Investment Advisors LLC. bought a new position in shares of Deere & Company in the second quarter worth about $266,000. Finally, Greater Midwest Financial Group LLC boosted its stake in shares of Deere & Company by 7.0% in the 2nd quarter. Greater Midwest Financial Group LLC now owns 5,995 shares of the industrial products company’s stock valued at $2,106,000 after purchasing an additional 390 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE opened at $416.49 on Thursday. 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’s fifty day simple moving average is $382.11 and its two-hundred day simple moving average is $384.87. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The stock has a market capitalization of $114.77 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.20 EPS. As a group, analysts predict that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Truist Financial reissued a “buy” rating and issued a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup lowered their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $410.50.

About Deere & Company

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.