Park National Corp OH Has $40.78 Million Position in Deere & Company $DE

Park National Corp OH boosted its stake in Deere & Company (NYSE:DE) by 3.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 89,175 shares of the industrial products company’s stock after buying an additional 2,628 shares during the period. Deere & Company makes up 1.3% of Park National Corp OH’s portfolio, making the stock its 19th largest holding. Park National Corp OH’s holdings in Deere & Company were worth $40,776,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. bought a new stake in Deere & Company in the 2nd quarter valued at about $25,000. Activest Wealth Management increased its stake in 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 acquiring an additional 55 shares during the period. Howard Hughes Medical Institute acquired a new position in Deere & Company in the 2nd quarter valued at $27,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Deere & Company during the 2nd quarter valued at $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 2nd quarter worth $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.6%

DE opened at $487.81 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. Deere & Company has a fifty-two week low of $403.01 and a fifty-two week high of $533.78. The company’s 50 day moving average price is $469.62 and its two-hundred day moving average price is $487.30. The firm has a market capitalization of $131.87 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.83 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.55 earnings per share. As a group, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DE has been the topic of several analyst reports. Wolfe Research reduced their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. UBS Group restated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Oppenheimer lifted their target price on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Daiwa Capital Markets lowered their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research note on Tuesday, December 2nd. Finally, Evercore ISI restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $523.70.

About Deere & Company

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.