Wesbanco Bank Inc. Has $7.76 Million Stock Holdings in Deere & Company $DE

Wesbanco Bank Inc. decreased its position in Deere & Company (NYSE:DE) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,975 shares of the industrial products company’s stock after selling 885 shares during the period. Wesbanco Bank Inc.’s holdings in Deere & Company were worth $7,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after purchasing an additional 309,081 shares in the last quarter. State Street Corp increased its stake in Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares in the last quarter. Geode Capital Management LLC increased its stake in Deere & Company by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares in the last quarter. Norges Bank acquired a new stake in Deere & Company during the 2nd quarter worth approximately $1,578,243,000. Finally, Fisher Asset Management LLC lifted its stake in Deere & Company by 10.1% in the second quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after buying an additional 236,406 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 0.5%

DE stock opened at $586.12 on Tuesday. The company has a market cap of $158.88 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 2.33 and a beta of 1.02. Deere & Company has a twelve month low of $404.42 and a twelve month high of $587.74. The business has a 50 day moving average price of $497.60 and a two-hundred day moving average price of $484.60. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the prior year, the business posted $4.55 earnings per share. Deere & Company’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st were paid a dividend of $1.62 per share. The ex-dividend date was Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is currently 35.01%.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Evercore reissued a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Robert W. Baird reduced their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Truist Financial increased their target price on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a report on Friday, November 28th. BMO Capital Markets restated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a report on Tuesday, December 9th. Finally, Wells Fargo & Company began coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $524.20.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is owned by insiders.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.