CoreFirst Bank & Trust Buys New Shares in Deere & Company (NYSE:DE)

CoreFirst Bank & Trust purchased a new position in Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,397 shares of the industrial products company's stock, valued at approximately $592,000.

A number of other large investors also recently modified their holdings of DE. Robertson Stephens Wealth Management LLC lifted its holdings in Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after purchasing an additional 22 shares during the last quarter. DLK Investment Management LLC raised its stake in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock worth $3,479,000 after purchasing an additional 24 shares in the last quarter. Quent Capital LLC boosted its holdings in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock worth $3,398,000 after purchasing an additional 24 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its holdings in shares of Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock worth $236,000 after purchasing an additional 25 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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Deere & Company Price Performance

DE traded down $14.45 on Friday, reaching $465.27. The stock had a trading volume of 1,183,544 shares, compared to its average volume of 1,400,727. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a 50-day moving average of $477.28 and a 200-day moving average of $439.76. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $126.28 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DE. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Evercore ISI raised their price target on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Truist Financial reaffirmed a "buy" rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of "Hold" and an average target price of $460.00.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company's stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.