First Midwest Bank Trust Division increased its holdings in Deere & Company (NYSE:DE) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,214 shares of the industrial products company’s stock after acquiring an additional 722 shares during the quarter. Deere & Company makes up about 2.2% of First Midwest Bank Trust Division’s holdings, making the stock its 4th biggest position. First Midwest Bank Trust Division’s holdings in Deere & Company were worth $16,168,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. BancorpSouth Bank increased its holdings in shares of Deere & Company by 295.2% in the 4th quarter. BancorpSouth Bank now owns 5,355 shares of the industrial products company’s stock valued at $1,441,000 after acquiring an additional 4,000 shares during the period. Great Valley Advisor Group Inc. increased its stake in Deere & Company by 194.9% in the 4th quarter. Great Valley Advisor Group Inc. now owns 8,193 shares of the industrial products company’s stock valued at $2,204,000 after buying an additional 5,415 shares during the period. Signet Investment Advisory Group Inc. acquired a new position in Deere & Company in the 4th quarter valued at $961,000. Brendel Financial Advisors LLC acquired a new position in Deere & Company in the 1st quarter valued at $2,970,000. Finally, First United Bank Trust increased its stake in Deere & Company by 6.9% in the 4th quarter. First United Bank Trust now owns 3,206 shares of the industrial products company’s stock valued at $863,000 after buying an additional 208 shares during the period. 66.77% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on DE. Barclays boosted their price objective on shares of Deere & Company from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Deere & Company from $360.00 to $402.00 and gave the company a “hold” rating in a research note on Tuesday. Credit Suisse Group boosted their price objective on shares of Deere & Company from $343.00 to $403.00 and gave the company an “outperform” rating in a research note on Monday, March 1st. Argus upped their price target on shares of Deere & Company from $280.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, March 1st. Finally, Oppenheimer upped their price target on shares of Deere & Company from $331.00 to $380.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $327.95.
Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.17 by $1.70. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.12 billion. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. As a group, research analysts forecast that Deere & Company will post 13.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Wednesday, March 31st will be issued a dividend of $0.90 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $0.76. This represents a $3.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, March 30th. Deere & Company’s dividend payout ratio is presently 41.43%.
Deere & Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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