Deere & Company (NYSE:DE) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. cut its stake in shares of Deere & Company (NYSE:DE) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,888 shares of the industrial products company’s stock after selling 168 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Deere & Company were worth $4,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. DLK Investment Management LLC increased its position in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares during the last quarter. Mattern Wealth Management LLC increased its holdings in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares during the last quarter. Carret Asset Management LLC raised its position in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after acquiring an additional 25 shares in the last quarter. Round Rock Advisors LLC lifted its stake in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 25 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its position in Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DE. UBS Group lifted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Citigroup lowered their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Price Performance

DE opened at $476.29 on Monday. The company has a fifty day moving average price of $444.68 and a two-hundred day moving average price of $410.05. The firm has a market capitalization of $129.72 billion, a PE ratio of 18.61, a P/E/G ratio of 2.95 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. 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 EPS for the quarter, beating 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 company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the business posted $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 19.38 earnings per share for the current 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 $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. Deere & Company’s payout ratio is 25.31%.

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.