Camden National Bank Decreases Position in Deere & Company (NYSE:DE)

Camden National Bank lowered its position in Deere & Company (NYSE:DE) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,021 shares of the industrial products company’s stock after selling 296 shares during the quarter. Deere & Company accounts for approximately 1.6% of Camden National Bank’s holdings, making the stock its 18th biggest holding. Camden National Bank’s holdings in Deere & Company were worth $11,025,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Radnor Capital Management LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $243,000. Forte Capital LLC ADV grew its holdings in Deere & Company by 6.3% during the 3rd quarter. Forte Capital LLC ADV now owns 1,646 shares of the industrial products company’s stock valued at $687,000 after buying an additional 98 shares during the last quarter. Sittner & Nelson LLC increased its position in Deere & Company by 7.2% during the third quarter. Sittner & Nelson LLC now owns 446 shares of the industrial products company’s stock worth $186,000 after buying an additional 30 shares in the last quarter. Hudson Value Partners LLC raised its holdings in shares of Deere & Company by 10.6% in the third quarter. Hudson Value Partners LLC now owns 6,520 shares of the industrial products company’s stock worth $2,721,000 after acquiring an additional 627 shares during the last quarter. Finally, First National Bank & Trust Co. of Newtown lifted its position in shares of Deere & Company by 1.8% in the third quarter. First National Bank & Trust Co. of Newtown now owns 1,692 shares of the industrial products company’s stock valued at $706,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 3.5 %

DE opened at $499.73 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The firm has a 50 day moving average price of $461.21 and a 200 day moving average price of $429.44. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market cap of $135.63 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Analysts Set New Price Targets

DE has been the subject of a number of recent research reports. Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $457.22.

Deere & Company 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.