Trust Co. of Toledo NA OH Purchases 2,723 Shares of Deere & Company (NYSE:DE)

Trust Co. of Toledo NA OH grew its stake in Deere & Company (NYSE:DE - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,614 shares of the industrial products company's stock after purchasing an additional 2,723 shares during the period. Deere & Company comprises approximately 1.2% of Trust Co. of Toledo NA OH's investment portfolio, making the stock its 16th largest position. Trust Co. of Toledo NA OH's holdings in Deere & Company were worth $9,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fiduciary Alliance LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $613,000. Czech National Bank grew its holdings in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock worth $23,376,000 after acquiring an additional 2,964 shares during the last quarter. Graypoint LLC raised its stake in shares of Deere & Company by 3.4% during the fourth quarter. Graypoint LLC now owns 3,491 shares of the industrial products company's stock valued at $1,479,000 after acquiring an additional 114 shares during the last quarter. LVM Capital Management Ltd. MI lifted its holdings in shares of Deere & Company by 11.0% during the fourth quarter. LVM Capital Management Ltd. MI now owns 2,332 shares of the industrial products company's stock worth $988,000 after purchasing an additional 232 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Deere & Company by 2.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,603 shares of the industrial products company's stock worth $2,798,000 after purchasing an additional 148 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 5.3 %

NYSE:DE traded up $21.60 during trading hours on Monday, hitting $430.17. 1,988,685 shares of the company traded hands, compared to its average volume of 1,249,653. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market cap of $117.69 billion, a PE ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96. The firm's 50-day simple moving average is $428.56 and its 200-day simple moving average is $400.45. Deere & Company has a one year low of $340.20 and a one year high of $469.39.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts' consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the firm earned $8.26 earnings per share. The firm's revenue was down 32.8% on a year-over-year basis. Equities analysts predict that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend 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 dividend yield of 1.51%. Deere & Company's dividend payout ratio is currently 22.97%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Citigroup upped their price objective on shares of Deere & Company from $460.00 to $470.00 and gave the company a "neutral" rating in a research note on Monday, December 9th. Finally, Truist Financial lifted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $443.94.

About Deere & Company

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.