Deere & Company (NYSE:DE) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust decreased its stake in shares of Deere & Company (NYSE:DE) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,839 shares of the industrial products company’s stock after selling 184 shares during the period. Parkside Financial Bank & Trust’s holdings in Deere & Company were worth $1,135,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Associates Ltd. grew its stake in shares of Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 939 shares during the period. Penserra Capital Management LLC increased its position in Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in Deere & Company by 6.9% in the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after buying an additional 900 shares during the period. Centric Wealth Management acquired a new position in Deere & Company during the third quarter valued at approximately $2,640,000. Finally, Graham Capital Management L.P. grew its stake in Deere & Company by 483.3% during the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after buying an additional 14,500 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock traded down $0.33 on Wednesday, reaching $396.88. The company’s stock had a trading volume of 144,148 shares, compared to its average volume of 1,469,907. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a market cap of $110.48 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The business’s fifty day moving average price is $386.42 and its 200 day moving average price is $383.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the company earned $6.55 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts expect that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.48%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Morgan Stanley started coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, Truist Financial assumed coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $433.28.

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.