Wesbanco Bank Inc. Has $9.08 Million Stake in Deere & Company $DE

Wesbanco Bank Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,860 shares of the industrial products company’s stock after selling 144 shares during the quarter. Wesbanco Bank Inc.’s holdings in Deere & Company were worth $9,082,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after purchasing an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after buying an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Deere & Company by 2.0% during the first 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 worth $852,254,000 after buying an additional 35,075 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Deere & Company by 2.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company’s stock worth $754,500,000 after buying an additional 48,941 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after buying an additional 1,750,163 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.1%

Shares of NYSE:DE opened at $471.35 on Friday. The company has a market capitalization of $127.42 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The business has a fifty day moving average price of $497.38 and a two-hundred day moving average price of $490.32. Deere & Company has a 1 year low of $386.42 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (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 firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the company earned $6.29 EPS. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analyst Upgrades and Downgrades

DE has been the subject of several recent research reports. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. Citigroup decreased their price target on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Truist Financial decreased their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Finally, Oppenheimer upped their price objective on Deere & Company from $560.00 to $566.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $520.87.

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.