Huntington National Bank Sells 1,956 Shares of Deere & Company $DE

Huntington National Bank lessened its holdings in Deere & Company (NYSE:DE) by 3.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 49,865 shares of the industrial products company’s stock after selling 1,956 shares during the period. Huntington National Bank’s holdings in Deere & Company were worth $22,801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company during the 2nd quarter valued at about $27,000. Activest Wealth Management raised its position in Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 27 shares during the period. Center for Financial Planning Inc. lifted its stake in shares of Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares during the last quarter. Soundwatch Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $41,000. Finally, United Community Bank boosted its holdings in shares of Deere & Company by 67.3% in the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 37 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 1.6%

NYSE:DE opened at $629.32 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a 1-year low of $404.42 and a 1-year high of $674.19. The company has a 50-day moving average of $537.84 and a 200 day moving average of $495.59. The firm has a market cap of $170.59 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DE shares. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Truist Financial lifted their price target on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Oppenheimer reissued an “outperform” rating and issued a $715.00 price objective on shares of Deere & Company in a research report on Friday, February 20th. Evercore restated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Finally, Jefferies Financial Group cut Deere & Company from a “hold” rating to an “underperform” rating and upped their target price for the company from $475.00 to $550.00 in a research note on Monday. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $637.70.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.