AMG National Trust Bank Purchases 70 Shares of Deere & Company (NYSE:DE)

AMG National Trust Bank raised its position in shares of Deere & Company (NYSE:DEGet Rating) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,065 shares of the industrial products company’s stock after acquiring an additional 70 shares during the period. AMG National Trust Bank’s holdings in Deere & Company were worth $1,023,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in Deere & Company by 13.5% during the second quarter. Cetera Investment Advisers now owns 19,222 shares of the industrial products company’s stock valued at $5,756,000 after acquiring an additional 2,291 shares during the period. Hoylecohen LLC lifted its stake in shares of Deere & Company by 9.1% in the second quarter. Hoylecohen LLC now owns 4,549 shares of the industrial products company’s stock valued at $1,362,000 after buying an additional 380 shares during the period. Mutual Advisors LLC lifted its stake in shares of Deere & Company by 9.3% in the third quarter. Mutual Advisors LLC now owns 3,824 shares of the industrial products company’s stock valued at $1,277,000 after buying an additional 324 shares during the period. TownSquare Capital LLC lifted its stake in shares of Deere & Company by 32.7% in the second quarter. TownSquare Capital LLC now owns 2,620 shares of the industrial products company’s stock valued at $785,000 after buying an additional 645 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Deere & Company by 7.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 56,260 shares of the industrial products company’s stock valued at $18,784,000 after buying an additional 4,128 shares during the period. 75.72% of the stock is currently owned by institutional investors.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $401.75, for a total value of $817,159.50. Following the completion of the sale, the insider now owns 30,946 shares of the company’s stock, valued at $12,432,555.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Deere & Company news, insider Ryan D. Campbell sold 11,429 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $439.69, for a total value of $5,025,217.01. Following the transaction, the insider now directly owns 13,147 shares of the company’s stock, valued at $5,780,604.43. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Cory J. Reed sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $401.75, for a total transaction of $817,159.50. Following the completion of the transaction, the insider now directly owns 30,946 shares in the company, valued at $12,432,555.50. The disclosure for this sale can be found here. Insiders sold a total of 32,339 shares of company stock valued at $13,872,361 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Oppenheimer increased their target price on shares of Deere & Company from $415.00 to $492.00 in a research note on Wednesday, November 23rd. The Goldman Sachs Group increased their target price on shares of Deere & Company from $420.00 to $462.00 and gave the company a “buy” rating in a research note on Monday, November 28th. Bank of America increased their target price on shares of Deere & Company from $444.00 to $478.00 in a research note on Friday, November 25th. Stifel Nicolaus increased their target price on shares of Deere & Company from $475.00 to $477.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Finally, DA Davidson increased their target price on shares of Deere & Company from $445.00 to $520.00 in a research note on Monday, November 28th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $459.05.

Deere & Company Stock Performance

NYSE DE opened at $409.34 on Tuesday. The firm has a market cap of $121.64 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.24 and a beta of 1.08. The company has a 50 day moving average of $430.62 and a 200-day moving average of $383.13. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 1.66. Deere & Company has a 1-year low of $283.81 and a 1-year high of $448.40.

Deere & Company (NYSE:DEGet Rating) last issued its quarterly earnings results on Wednesday, November 23rd. The industrial products company reported $7.44 earnings per share for the quarter, beating analysts’ consensus estimates of $7.08 by $0.36. The business had revenue of $14.35 billion during the quarter, compared to analyst estimates of $13.64 billion. Deere & Company had a net margin of 13.56% and a return on equity of 37.52%. On average, equities analysts forecast that Deere & Company will post 27.86 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Friday, December 30th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.13. Deere & Company’s dividend payout ratio (DPR) is currently 20.57%.

About Deere & Company

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

Further Reading

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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