Fulton Bank N.A. Sells 34 Shares of Deere & Company (NYSE:DE)

Fulton Bank N.A. decreased its holdings in shares of Deere & Company (NYSE:DE) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,968 shares of the industrial products company’s stock after selling 34 shares during the period. Fulton Bank N.A.’s holdings in Deere & Company were worth $1,681,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DE. Acadian Asset Management LLC lifted its holdings in Deere & Company by 324.4% during the 2nd quarter. Acadian Asset Management LLC now owns 8,909 shares of the industrial products company’s stock valued at $3,328,000 after purchasing an additional 6,810 shares during the last quarter. LGT Group Foundation increased its holdings in shares of Deere & Company by 230.2% during the second quarter. LGT Group Foundation now owns 928 shares of the industrial products company’s stock worth $347,000 after buying an additional 647 shares in the last quarter. LGT Fund Management Co Ltd. bought a new position in shares of Deere & Company in the second quarter valued at approximately $584,000. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Deere & Company by 5.4% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 3,581 shares of the industrial products company’s stock worth $1,338,000 after acquiring an additional 183 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Deere & Company by 8.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 41,496 shares of the industrial products company’s stock worth $15,504,000 after acquiring an additional 3,103 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Oppenheimer increased their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial upped their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $443.94.

Deere & Company Stock Down 0.9 %

Shares of Deere & Company stock opened at $409.70 on Thursday. The business has a fifty day simple moving average of $427.74 and a 200 day simple moving average of $399.42. The stock has a market cap of $111.26 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the company earned $8.26 EPS. Research analysts predict that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.58%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

About Deere & Company

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.