AMG National Trust Bank Raises Holdings in Deere & Company (NYSE:DE)

AMG National Trust Bank increased its holdings in Deere & Company (NYSE:DE) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,337 shares of the industrial products company’s stock after acquiring an additional 52 shares during the period. AMG National Trust Bank’s holdings in Deere & Company were worth $992,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the period. FMR LLC boosted its position in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Deere & Company during the fourth quarter worth $296,232,000. Stockbridge Partners LLC boosted its position in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in shares of Deere & Company by 52,200.3% during the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock worth $224,920,000 after buying an additional 529,833 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 3.5 %

Deere & Company stock opened at $499.73 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market cap of $135.63 billion, a PE ratio of 22.15, a P/E/G ratio of 2.14 and a beta of 1.01. The stock’s fifty day moving average is $461.21 and its two-hundred day moving average is $429.83.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DE shares. UBS Group raised 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. Truist Financial restated a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Finally, Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $457.22.

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.