City State Bank Reduces Stock Holdings in Deere & Company (NYSE:DE)

City State Bank trimmed its holdings in shares of Deere & Company (NYSE:DE) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,861 shares of the industrial products company’s stock after selling 212 shares during the quarter. City State Bank’s holdings in Deere & Company were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in Deere & Company during the 1st quarter worth about $191,628,000. Mawer Investment Management Ltd. acquired a new stake in Deere & Company during the 2nd quarter worth about $166,937,000. Dimensional Fund Advisors LP lifted its position in Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the period. Vanguard Group Inc. lifted its position in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after acquiring an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in Deere & Company by 28,306.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock worth $934,000 after acquiring an additional 249,097 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $411.08 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The stock has a 50 day moving average of $387.01 and a two-hundred day moving average of $385.44. 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 has a market cap of $113.28 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the business earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company 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.