Huntington National Bank Has $26.35 Million Holdings in Deere & Company $DE

Huntington National Bank lessened its stake in shares of Deere & Company (NYSE:DE) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 51,821 shares of the industrial products company’s stock after selling 1,689 shares during the quarter. Huntington National Bank’s holdings in Deere & Company were worth $26,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after purchasing an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after purchasing an additional 35,075 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Deere & Company by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock valued at $727,046,000 after purchasing an additional 25,725 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after purchasing an additional 256,806 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DE shares. Wolfe Research dropped their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Jefferies Financial Group dropped their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Royal Bank Of Canada started coverage on Deere & Company in a report on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 target price on the stock. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. Finally, Citigroup lowered their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Price Performance

NYSE DE opened at $461.46 on Tuesday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The stock’s 50-day moving average is $467.21 and its two-hundred day moving average is $490.01. The firm has a market cap of $124.75 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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

Deere & Company Announces Dividend

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

Deere & Company 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.