First Merchants Corp Has $2.20 Million Stock Holdings in Deere & Company $DE

First Merchants Corp decreased its position in shares of Deere & Company (NYSE:DE) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,317 shares of the industrial products company’s stock after selling 343 shares during the period. First Merchants Corp’s holdings in Deere & Company were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after acquiring an additional 5,053 shares in the last quarter. OLD National Bancorp IN lifted its stake in Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after purchasing an additional 610 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares during the last quarter. Finally, Bragg Financial Advisors Inc lifted its stake in Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 813 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Wolfe Research dropped their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. Finally, Truist Financial raised their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $518.59.

Deere & Company Price Performance

DE stock opened at $461.06 on Thursday. The company has a fifty day moving average price of $481.60 and a 200-day moving average price of $488.75. The company has a market capitalization of $124.64 billion, a P/E ratio of 24.10, a PEG ratio of 2.97 and a beta of 1.02. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a 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%.

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.