Truist Financial Corp Has $99.35 Million Stake in Deere & Company $DE

Truist Financial Corp decreased its position in Deere & Company (NYSE:DE) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 213,403 shares of the industrial products company’s stock after selling 11,975 shares during the quarter. Truist Financial Corp’s holdings in Deere & Company were worth $99,354,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Strategic Advocates LLC purchased a new position in Deere & Company during the third quarter worth about $25,000. Key Capital Management INC purchased a new stake in Deere & Company in the 4th quarter valued at about $27,000. Activest Wealth Management lifted its position in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after buying an additional 27 shares in the last quarter. Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth approximately $41,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

DE opened at $577.66 on Tuesday. The company has a market capitalization of $156.03 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.01 and a beta of 0.96. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $590.37 and a 200-day moving average price of $530.04. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the prior year, the company posted $3.19 EPS. Deere & Company’s revenue was up 17.5% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 18.01 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is currently 36.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DE shares. Royal Bank Of Canada upped their target price on Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a report on Friday, February 20th. UBS Group boosted their price objective on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Argus upped their price objective on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Citigroup decreased their target price on Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research report on Monday, March 9th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $765.00 target price on shares of Deere & Company in a research note on Monday, February 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $655.45.

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.