Peoples Bank OH Has $1.10 Million Stock Position in Deere & Company (NYSE:DE)

Peoples Bank OH lowered its holdings in Deere & Company (NYSE:DE) by 5.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,645 shares of the industrial products company’s stock after selling 140 shares during the quarter. Peoples Bank OH’s holdings in Deere & Company were worth $1,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew 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 in the last quarter. Aviance Capital Partners LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $2,783,000. Royal Fund Management LLC grew its holdings in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares in the last quarter. New Century Financial Group LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $1,052,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $24,984,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.5 %

Shares of NYSE DE traded up $2.07 during midday trading on Thursday, hitting $410.71. The stock had a trading volume of 297,364 shares, compared to its average volume of 1,455,794. The company’s 50-day simple moving average is $396.54 and its 200 day simple moving average is $385.38. The firm has a market cap of $113.18 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm earned $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

Several research firms recently commented on DE. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. 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. Finally, Oppenheimer cut their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $420.69.

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.