Northwest Bancshares Inc. Sells 137 Shares of Deere & Company (NYSE:DE)

Northwest Bancshares Inc. cut its holdings in Deere & Company (NYSE:DE) by 12.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 951 shares of the industrial products company’s stock after selling 137 shares during the period. Northwest Bancshares Inc.’s holdings in Deere & Company were worth $397,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its holdings in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp increased its stake in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,400 shares during the period. Balentine LLC acquired a new position in Deere & Company in the 3rd quarter valued at approximately $710,000. Royal Fund Management LLC lifted its position in shares of Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after acquiring an additional 3,223 shares during the period. Finally, New Century Financial Group LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $1,052,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DE. Citigroup raised their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Finally, Truist Financial upped their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $405.11 on Thursday. The business has a fifty day moving average of $404.97 and a 200-day moving average of $385.83. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The firm has a market cap of $110.84 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is presently 20.06%.

About Deere & Company

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.