Hilltop National Bank Sells 332 Shares of Deere & Company (NYSE:DE)

Hilltop National Bank lessened its position in shares of Deere & Company (NYSE:DE) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,821 shares of the industrial products company’s stock after selling 332 shares during the quarter. Hilltop National Bank’s holdings in Deere & Company were worth $1,619,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. FMR LLC increased its position in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC raised its position in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Finally, Stockbridge Partners LLC boosted its stake in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Truist Financial upped their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup upped their target price on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $443.94.

Deere & Company Price Performance

Shares of NYSE DE traded down $6.50 during mid-day trading on Friday, reaching $403.50. 243,421 shares of the company were exchanged, compared to its average volume of 880,783. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $109.58 billion, a PE ratio of 15.76, a PEG ratio of 1.91 and a beta of 0.98. The company’s 50 day moving average price is $427.83 and its 200 day moving average price is $399.49. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the prior year, the firm posted $8.26 earnings per share. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.61%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

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.