Norway Savings Bank Sells 663 Shares of Deere & Company (NYSE:DE)

Norway Savings Bank trimmed its holdings in shares of Deere & Company (NYSE:DE) by 43.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 865 shares of the industrial products company’s stock after selling 663 shares during the period. Norway Savings Bank’s holdings in Deere & Company were worth $406,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Orion Capital Management LLC bought a new position in Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the 4th quarter worth approximately $39,000. Dogwood Wealth Management LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $42,000. Wood Tarver Financial Group LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $48,000. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on DE shares. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Barclays lifted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Oppenheimer lifted their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Raymond James Financial lifted their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Stock Performance

DE stock opened at $520.66 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a 50 day moving average price of $495.13 and a 200 day moving average price of $470.56. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock has a market capitalization of $141.01 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.09.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.53 earnings per share. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company’s dividend payout ratio is currently 31.35%.

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.