Fulton Bank N.A. decreased its holdings in Deere & Company (NYSE:DE) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,031 shares of the industrial products company’s stock after selling 297 shares during the period. Fulton Bank N.A.’s holdings in Deere & Company were worth $1,134,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Klaas Financial Asset Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at approximately $26,000. Grant Street Asset Management Inc. acquired a new position in shares of Deere & Company in the fourth quarter worth $27,000. Syverson Strege & Co purchased a new stake in shares of Deere & Company during the fourth quarter worth $28,000. Leelyn Smith LLC boosted its position in Deere & Company by 2,500.0% during the fourth quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Clearview Wealth Advisors LLC purchased a new position in Deere & Company in the fourth quarter valued at about $32,000. 66.77% of the stock is owned by institutional investors and hedge funds.
DE stock traded down $2.89 on Thursday, reaching $371.90. 1,965 shares of the company were exchanged, compared to its average volume of 1,859,980. The firm has a market capitalization of $116.57 billion, a PE ratio of 43.08, a PEG ratio of 1.43 and a beta of 0.96. Deere & Company has a 12 month low of $117.85 and a 12 month high of $392.42. The stock’s fifty day moving average price is $357.42 and its 200 day moving average price is $285.84. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.24 and a quick ratio of 2.03.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, March 30th. This is an increase from Deere & Company’s previous quarterly dividend of $0.76. This represents a $3.60 dividend on an annualized basis and a yield of 0.97%. Deere & Company’s dividend payout ratio (DPR) is 41.43%.
Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Deere & Company from $325.00 to $365.00 and gave the company a “buy” rating in a report on Monday, March 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Deere & Company from $287.00 to $360.00 and gave the stock a “hold” rating in a research report on Monday, March 1st. Vertical Research began coverage on shares of Deere & Company in a report on Wednesday, January 20th. They set a “buy” rating and a $345.00 price target on the stock. Citigroup upped their price objective on shares of Deere & Company from $325.00 to $375.00 and gave the stock a “neutral” rating in a report on Wednesday, March 10th. Finally, Morgan Stanley raised their target price on Deere & Company from $341.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $320.20.
About Deere & Company
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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