Truist Financial Corp Sells 41,124 Shares of Deere & Company (NYSE:DE)

Truist Financial Corp lowered its position in Deere & Company (NYSE:DE) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,946 shares of the industrial products company’s stock after selling 41,124 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Deere & Company worth $68,756,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc acquired a new stake in Deere & Company in the third quarter valued at $25,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Bfsg LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $30,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. Wells Fargo & Company cut their target price 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. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Stifel Nicolaus cut their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Price Performance

DE stock opened at $393.33 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The firm has a market cap of $109.49 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. The company’s 50-day moving average price is $387.86 and its two-hundred day moving average price is $383.56.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating 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 firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the firm earned $6.55 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

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.