Deere & Company (NYSE:DE) Shares Sold by Indiana Trust & Investment Management CO

Indiana Trust & Investment Management CO decreased its stake in shares of Deere & Company (NYSE:DE) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,769 shares of the industrial products company’s stock after selling 76 shares during the period. Indiana Trust & Investment Management CO’s holdings in Deere & Company were worth $727,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DE. True Wealth Design LLC lifted its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $29,000. Private Wealth Management Group LLC purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $29,000. Finally, Bfsg LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DE shares. TD Cowen lifted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Truist Financial started coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Daiwa Capital Markets raised their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Finally, Oppenheimer reissued an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $430.55.

Insider Transactions at Deere & Company

In other 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 owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Deere & Company Stock Performance

DE traded down $3.16 during trading on Friday, reaching $373.63. 6,689,441 shares of the company’s stock were exchanged, compared to its average volume of 1,519,037. The company has a market capitalization of $102.96 billion, a P/E ratio of 11.43, a PEG ratio of 1.51 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of $386.34 and a 200 day moving average price of $387.01. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the business earned $9.65 EPS. As a group, analysts predict that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.