OLD National Bancorp IN Grows Stake in Deere & Company (NYSE:DE)

OLD National Bancorp IN lifted its stake in Deere & Company (NYSE:DE) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,432 shares of the industrial products company’s stock after buying an additional 1,002 shares during the period. OLD National Bancorp IN’s holdings in Deere & Company were worth $17,348,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DE. True Wealth Design LLC boosted its position in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC acquired a new position in Deere & Company in the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on DE shares. Daiwa Capital Markets increased their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley raised their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Truist Financial lowered their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Stifel Nicolaus increased their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Oppenheimer reduced their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $424.78.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Deere & Company Trading Down 0.9 %

Shares of Deere & Company stock traded down $3.11 on Friday, reaching $346.03. 1,334,045 shares of the company were exchanged, compared to its average volume of 1,531,324. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $441.46. The firm has a market capitalization of $95.36 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a fifty day moving average price of $368.46 and a 200-day moving average price of $381.69.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.65 EPS. On average, analysts expect that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

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.