First International Bank & Trust Decreases Stock Position in Deere & Company $DE

First International Bank & Trust reduced its holdings in shares of Deere & Company (NYSE:DE) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,089 shares of the industrial products company’s stock after selling 193 shares during the quarter. Deere & Company makes up 0.4% of First International Bank & Trust’s investment portfolio, making the stock its 27th largest position. First International Bank & Trust’s holdings in Deere & Company were worth $1,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Deere & Company in the first quarter worth $29,000. Cornerstone Planning Group LLC lifted its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $34,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.1%

Shares of DE opened at $471.35 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $127.42 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The stock’s fifty day simple moving average is $497.38 and its 200 day simple moving average is $490.39. Deere & Company has a twelve month low of $386.42 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm posted $6.29 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. DA Davidson decreased their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Oppenheimer lifted their target price on shares of Deere & Company from $560.00 to $566.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $520.87.

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.