Huntington National Bank Lowers Stock Holdings in Deere & Company (NYSE:DE)

Huntington National Bank lessened its position in shares of Deere & Company (NYSE:DE - Free Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,320 shares of the industrial products company's stock after selling 3,977 shares during the period. Huntington National Bank's holdings in Deere & Company were worth $26,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Deere & Company in the 4th quarter valued at $28,454,000. RFG Bristol Wealth Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $539,000. Meeder Advisory Services Inc. boosted its position in shares of Deere & Company by 10.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 4,562 shares of the industrial products company's stock worth $1,933,000 after purchasing an additional 415 shares in the last quarter. OV Management LLC grew its stake in shares of Deere & Company by 9.3% in the 4th quarter. OV Management LLC now owns 4,981 shares of the industrial products company's stock valued at $2,110,000 after buying an additional 423 shares during the period. Finally, Geode Capital Management LLC increased its position in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after buying an additional 97,203 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

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Deere & Company Stock Performance

DE traded down $14.39 during midday trading on Monday, reaching $415.47. The company had a trading volume of 1,274,230 shares, compared to its average volume of 1,475,622. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The business has a 50-day moving average price of $476.55 and a two-hundred day moving average price of $442.38. The stock has a market cap of $112.76 billion, a PE ratio of 18.41, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating 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%. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.56%. Deere & Company's payout ratio is 28.72%.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Argus set a $510.00 price target on Deere & Company in a report on Friday, March 7th. Truist Financial restated a "buy" rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Oppenheimer lifted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $460.00.

Deere & 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.