Moody National Bank Trust Division Acquires New Position in Deere & Company (NYSE:DE)

Moody National Bank Trust Division acquired a new stake in Deere & Company (NYSE:DEGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,863 shares of the industrial products company’s stock, valued at approximately $857,000.

Several other large investors have also bought and sold shares of the business. JGP Wealth Management LLC lifted its position in shares of Deere & Company by 2.4% during the 1st quarter. JGP Wealth Management LLC now owns 1,127 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 26 shares during the period. Highland Private Wealth Management increased its stake in Deere & Company by 2.6% during the 1st quarter. Highland Private Wealth Management now owns 1,067 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 27 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Deere & Company by 1.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 2,728 shares of the industrial products company’s stock valued at $1,133,000 after purchasing an additional 27 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Deere & Company by 0.7% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,761 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 27 shares in the last quarter. Finally, Cable Hill Partners LLC increased its stake in Deere & Company by 3.3% during the 1st quarter. Cable Hill Partners LLC now owns 843 shares of the industrial products company’s stock valued at $350,000 after purchasing an additional 27 shares in the last quarter. 75.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In other news, CAO Marc A. Howze sold 4,019 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $373.22, for a total value of $1,499,971.18. Following the sale, the chief accounting officer now directly owns 17,321 shares of the company’s stock, valued at $6,464,543.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on DE shares. Credit Suisse Group boosted their price target on shares of Deere & Company from $393.00 to $447.00 and gave the company an “outperform” rating in a research note on Monday, August 22nd. Oppenheimer upped their target price on shares of Deere & Company from $365.00 to $415.00 in a research note on Monday, August 22nd. Bank of America upped their target price on shares of Deere & Company from $335.00 to $381.00 in a research note on Sunday, August 21st. DA Davidson reduced their target price on shares of Deere & Company from $480.00 to $445.00 and set a “buy” rating for the company in a research note on Monday, May 23rd. Finally, Morgan Stanley upped their target price on shares of Deere & Company from $416.00 to $424.00 and gave the stock an “overweight” rating in a research note on Sunday, August 21st. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $407.68.

Deere & Company Price Performance

NYSE DE opened at $354.50 on Friday. The company has a market cap of $107.00 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Deere & Company has a 52 week low of $283.81 and a 52 week high of $446.76. The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 1.69. The firm’s 50-day simple moving average is $347.14 and its two-hundred day simple moving average is $363.50.

Deere & Company (NYSE:DEGet Rating) last released its quarterly earnings data on Friday, August 19th. The industrial products company reported $6.16 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.45). The business had revenue of $13 billion for the quarter, compared to analysts’ expectations of $12.84 billion. Deere & Company had a net margin of 12.75% and a return on equity of 33.26%. Deere & Company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $5.32 earnings per share. Research analysts predict that Deere & Company will post 22.94 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 8th. Stockholders of record on Friday, September 30th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 29th. Deere & Company’s payout ratio is 22.59%.

About Deere & Company

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

See Also

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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