First National Bank of Mount Dora Trust Investment Services Sells 751 Shares of Deere & Company (NYSE:DE)

First National Bank of Mount Dora Trust Investment Services trimmed its position in Deere & Company (NYSE:DE) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 17,811 shares of the industrial products company’s stock after selling 751 shares during the period. Deere & Company comprises approximately 1.7% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 17th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Deere & Company were worth $7,433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position 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 valued at $5,906,000 after acquiring an additional 2,692 shares during the last quarter. Royal Fund Management LLC boosted its holdings in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after buying an additional 3,223 shares during the last quarter. New Century Financial Group LLC acquired a new stake in Deere & Company in the third quarter worth $1,052,000. Manning & Napier Advisors LLC acquired a new position in Deere & Company in the second quarter valued at about $24,984,000. Finally, Handelsbanken Fonder AB raised its position in shares of Deere & Company by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock worth $37,923,000 after purchasing an additional 1,963 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 up $2.34 during trading hours on Monday, reaching $402.76. 164,778 shares of the stock were exchanged, compared to its average volume of 1,435,393. The stock has a 50 day moving average of $400.85 and a two-hundred day moving average of $385.41. The company has a market cap of $110.20 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.20 EPS. Equities analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DE. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve 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 presently has an average rating of “Hold” and an average price target of $420.69.

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.