Stock Yards Bank & Trust Co. Has $6.48 Million Holdings in Deere & Company $DE

Stock Yards Bank & Trust Co. raised its holdings in Deere & Company (NYSE:DE) by 11.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,509 shares of the industrial products company’s stock after purchasing an additional 1,155 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Deere & Company were worth $6,483,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after acquiring an additional 198,332 shares during the last quarter. State Street Corp raised its stake in Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after acquiring an additional 97,049 shares during the period. Capital World Investors lifted its holdings in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after purchasing an additional 158,584 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Deere & Company by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after purchasing an additional 17,269 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays upped their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Oppenheimer restated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Bank of America reduced their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Robert W. Baird decreased their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Down 0.9%

DE stock opened at $628.84 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market capitalization of $169.75 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 2.35 and a beta of 0.89. The business’s fifty day moving average price is $576.92 and its two-hundred day moving average price is $561.32. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the business posted $6.64 earnings per share. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s payout ratio is 36.71%.

Deere & 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.