First Interstate Bank Sells 181 Shares of Deere & Company (NYSE:DE)

First Interstate Bank lowered its stake in shares of Deere & Company (NYSE:DE) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,240 shares of the industrial products company’s stock after selling 181 shares during the quarter. First Interstate Bank’s holdings in Deere & Company were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Moneta Group Investment Advisors LLC increased its holdings in Deere & Company by 104,373.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after buying an additional 3,216,801 shares during the period. Norges Bank bought a new stake in Deere & Company in the 4th quarter valued at $1,326,177,000. International Assets Investment Management LLC increased its holdings in Deere & Company by 46,241.1% in the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares during the period. Morgan Stanley increased its holdings in Deere & Company by 13.8% in the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock valued at $1,962,085,000 after buying an additional 554,133 shares during the period. Finally, First Trust Advisors LP increased its holdings in Deere & Company by 561.5% in the 1st quarter. First Trust Advisors LP now owns 531,339 shares of the industrial products company’s stock valued at $219,379,000 after buying an additional 451,019 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.2 %

NYSE:DE traded down $0.69 on Tuesday, hitting $393.11. 1,865,357 shares of the stock were exchanged, compared to its average volume of 1,501,141. The stock has a market capitalization of $109.43 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.49 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company’s 50-day moving average price is $384.87 and its 200 day moving average price is $382.45.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.55 EPS. On average, equities research analysts forecast that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DE shares. Morgan Stanley started coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Truist Financial started coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday. Evercore ISI boosted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Profile

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.