Truist Financial Corp Trims Stock Holdings in Deere & Company (NYSE:DE)

Truist Financial Corp decreased its holdings in Deere & Company (NYSE:DE) by 19.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 171,946 shares of the industrial products company’s stock after selling 41,124 shares during the period. Truist Financial Corp’s holdings in Deere & Company were worth $68,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Essex Savings Bank grew its stake in Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 26 shares in the last quarter. Valley National Advisers Inc. grew its stake in Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 27 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares in the last quarter. Simplicity Solutions LLC grew its stake in Deere & Company by 0.5% during the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares in the last quarter. Finally, SageView Advisory Group LLC grew its stake in Deere & Company by 2.4% during the third quarter. SageView Advisory Group LLC now owns 1,201 shares of the industrial products company’s stock valued at $453,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.2 %

Shares of DE opened at $393.33 on Friday. The firm has a market cap of $109.49 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.48 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. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The firm has a 50 day moving average price of $387.86 and a 200-day moving average price of $383.56.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period in the prior year, the business posted $6.55 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s dividend payout ratio is currently 17.12%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Evercore ISI boosted their price target on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Wells Fargo & Company cut their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Finally, Morgan Stanley initiated 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 for the company. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & 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.