Simmons Bank Boosts Stock Position in Deere & Company (NYSE:DE)

Simmons Bank boosted its holdings in shares of Deere & Company (NYSE:DE) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,645 shares of the industrial products company’s stock after acquiring an additional 42 shares during the quarter. Simmons Bank’s holdings in Deere & Company were worth $7,855,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DE. Essex Savings Bank raised its position in Deere & Company by 0.5% during the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 26 shares in the last quarter. Valley National Advisers Inc. raised its position in Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares in the last quarter. Bleakley Financial Group LLC raised its position in Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares in the last quarter. Simplicity Solutions LLC raised its position in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares in the last quarter. Finally, Blue Chip Partners LLC raised its position in Deere & Company by 2.3% during the 4th quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock traded down $0.38 during trading hours on Wednesday, hitting $405.19. The company’s stock had a trading volume of 403,253 shares, compared to its average volume of 1,448,995. The stock has a market cap of $112.79 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a 50 day moving average of $393.13 and a 200 day moving average of $384.23. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

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 the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $6.55 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Citigroup reduced their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Ten 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, Deere & Company presently has an average rating of “Hold” and a consensus price target 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.