UMB Bank n.a. Has $7.64 Million Position in Deere & Company (NYSE:DE)

UMB Bank n.a. lessened its holdings in Deere & Company (NYSE:DE) by 8.0% in the 4th quarter, Holdings Channel reports. The firm owned 18,026 shares of the industrial products company’s stock after selling 1,572 shares during the quarter. UMB Bank n.a.’s holdings in Deere & Company were worth $7,638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mechanics Bank Trust Department lifted its stake in shares of Deere & Company by 23.8% in the 4th quarter. Mechanics Bank Trust Department now owns 1,776 shares of the industrial products company’s stock valued at $752,000 after purchasing an additional 342 shares during the last quarter. Mandatum Life Insurance Co Ltd lifted its stake in shares of Deere & Company by 37.5% in the 4th quarter. Mandatum Life Insurance Co Ltd now owns 2,938 shares of the industrial products company’s stock valued at $1,245,000 after purchasing an additional 801 shares during the last quarter. Grove Bank & Trust raised its holdings in Deere & Company by 2.6% in the 4th quarter. Grove Bank & Trust now owns 1,601 shares of the industrial products company’s stock worth $678,000 after acquiring an additional 41 shares during the period. Brady Martz Wealth Solutions LLC bought a new position in Deere & Company in the 4th quarter worth $628,000. Finally, Ballast Inc. raised its holdings in Deere & Company by 5.0% in the 4th quarter. Ballast Inc. now owns 3,582 shares of the industrial products company’s stock worth $1,518,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Morgan Stanley boosted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $456.57 on Monday. 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’s 50-day simple moving average is $431.48 and its 200-day simple moving average is $402.25. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The firm has a market cap of $124.35 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the business earned $8.26 earnings per share. As a group, research analysts expect that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. Deere & Company’s payout ratio is 25.31%.

Deere & Company Profile

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.