Peoples Financial Services CORP. Sells 139 Shares of Deere & Company (NYSE:DE)

Peoples Financial Services CORP. reduced its position in shares of Deere & Company (NYSE:DE) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,121 shares of the industrial products company’s stock after selling 139 shares during the period. Peoples Financial Services CORP.’s holdings in Deere & Company were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. grew its holdings in Deere & Company by 2.1% during the second quarter. Federated Hermes Inc. now owns 15,896 shares of the industrial products company’s stock worth $5,939,000 after buying an additional 332 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Deere & Company by 12.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 303,541 shares of the industrial products company’s stock worth $113,412,000 after purchasing an additional 34,262 shares in the last quarter. One Capital Management LLC purchased a new stake in Deere & Company during the 2nd quarter worth about $272,000. Excalibur Management Corp lifted its holdings in Deere & Company by 32.0% during the 2nd quarter. Excalibur Management Corp now owns 2,183 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 529 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of Deere & Company by 7.4% in the 2nd quarter. Moors & Cabot Inc. now owns 16,406 shares of the industrial products company’s stock valued at $6,130,000 after acquiring an additional 1,137 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer raised their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Citigroup lowered their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $441.72.

Deere & Company Trading Up 0.5 %

Shares of DE opened at $432.17 on Wednesday. The stock has a 50-day moving average price of $429.20 and a 200 day moving average price of $400.87. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a market capitalization of $118.24 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the firm earned $8.26 EPS. The business’s quarterly revenue was down 32.8% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. 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 annualized dividend and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is currently 22.97%.

About Deere & Company

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.