Webster Bank N. A. Sells 23 Shares of Deere & Company (NYSE:DE)

Webster Bank N. A. decreased its holdings in Deere & Company (NYSE:DE) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,329 shares of the industrial products company’s stock after selling 23 shares during the period. Webster Bank N. A.’s holdings in Deere & Company were worth $1,410,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Modus Advisors LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 3rd quarter worth approximately $32,000. Centennial Bank AR boosted its stake in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. Continuum Advisory LLC grew its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Deere & Company in the 3rd quarter valued at $47,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock opened at $478.90 on Monday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $479.48. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock has a market cap of $130.43 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a 50 day simple moving average of $438.55 and a 200 day simple moving average of $406.44.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the business posted $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 19.34 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. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Oppenheimer raised their target price 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. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $442.83.

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.