CENTRAL TRUST Co Has $9.77 Million Stock Position in Deere & Company (NYSE:DE)

CENTRAL TRUST Co lessened its stake in Deere & Company (NYSE:DE) by 19.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,421 shares of the industrial products company’s stock after selling 5,696 shares during the quarter. CENTRAL TRUST Co’s holdings in Deere & Company were worth $9,774,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Deere & Company by 4.8% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,090 shares of the industrial products company’s stock valued at $872,000 after buying an additional 96 shares during the last quarter. Great Lakes Retirement Inc. raised its stake in Deere & Company by 6.8% in the 3rd quarter. Great Lakes Retirement Inc. now owns 5,531 shares of the industrial products company’s stock valued at $2,308,000 after acquiring an additional 350 shares during the period. International Assets Investment Management LLC raised its stake in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after acquiring an additional 770,451 shares during the period. Heartland Bank & Trust Co raised its stake in Deere & Company by 7.0% in the 3rd quarter. Heartland Bank & Trust Co now owns 1,653 shares of the industrial products company’s stock valued at $690,000 after acquiring an additional 108 shares during the period. Finally, Wallington Asset Management LLC raised its stake in Deere & Company by 2.1% in the 3rd quarter. Wallington Asset Management LLC now owns 26,553 shares of the industrial products company’s stock valued at $11,081,000 after acquiring an additional 553 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $408.64 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The stock has a market cap of $112.61 billion, a PE ratio of 12.30, a PEG ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm’s fifty day moving average price is $396.54 and its two-hundred day moving average price is $385.38.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s payout ratio is presently 17.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Raymond James assumed coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. Citigroup increased their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Finally, Truist Financial increased their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.