Norway Savings Bank Sells 488 Shares of Deere & Company (NYSE:DE)

Norway Savings Bank lessened its position in Deere & Company (NYSE:DE) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,528 shares of the industrial products company’s stock after selling 488 shares during the period. Norway Savings Bank’s holdings in Deere & Company were worth $647,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DE. Wellington Management Group LLP increased its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC increased its position in shares of Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC raised its stake in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Legal & General Group Plc lifted its holdings in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after buying an additional 60,255 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $4.06 during trading on Tuesday, hitting $413.94. 515,030 shares of the company were exchanged, compared to its average volume of 862,713. The stock has a 50 day moving average of $427.49 and a 200 day moving average of $399.08. The company has a market cap of $112.42 billion, a PE ratio of 16.17, a P/E/G ratio of 1.91 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the firm earned $8.26 EPS. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.57%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DE shares. Barclays lifted their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup raised their price objective on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Oppenheimer increased their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $443.94.

Deere & Company 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.