First Western Trust Bank Decreases Stock Holdings in Deere & Company (NYSE:DE)

First Western Trust Bank lessened its holdings in Deere & Company (NYSE:DE) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 722 shares of the industrial products company’s stock after selling 44 shares during the period. First Western Trust Bank’s holdings in Deere & Company were worth $289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Essex Savings Bank lifted its stake in shares of Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after acquiring an additional 26 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Deere & Company by 1.5% in the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the last quarter. Simplicity Solutions LLC grew its position in shares of Deere & Company by 0.5% during the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after buying an additional 27 shares in the last quarter. Finally, Blue Chip Partners LLC increased its stake in shares of Deere & Company by 2.3% in the fourth quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock worth $489,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Evercore ISI upped their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Stifel Nicolaus lowered their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Price Performance

DE stock traded up $3.62 during trading on Thursday, hitting $409.04. The company had a trading volume of 994,202 shares, compared to its average volume of 1,446,885. The business has a 50 day moving average of $393.94 and a 200 day moving average of $384.38. The firm has a market capitalization of $113.86 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.51 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $6.55 EPS. As a group, research analysts predict that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.