Park National Corp OH Has $44.01 Million Stock Holdings in Deere & Company $DE

Park National Corp OH cut its stake in Deere & Company (NYSE:DE) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,547 shares of the industrial products company’s stock after selling 2,078 shares during the quarter. Deere & Company makes up 1.5% of Park National Corp OH’s portfolio, making the stock its 13th biggest holding. Park National Corp OH’s holdings in Deere & Company were worth $44,008,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DE. Brighton Jones LLC increased its stake in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in Deere & Company by 254.4% in the fourth quarter. Nomura Holdings Inc. now owns 13,609 shares of the industrial products company’s stock worth $5,766,000 after purchasing an additional 9,769 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Deere & Company by 18.1% in the fourth quarter. Quantinno Capital Management LP now owns 21,672 shares of the industrial products company’s stock worth $9,183,000 after purchasing an additional 3,320 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Deere & Company by 13.2% in the fourth quarter. ProShare Advisors LLC now owns 37,228 shares of the industrial products company’s stock worth $15,774,000 after purchasing an additional 4,331 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in Deere & Company by 41.7% in the fourth quarter. Polar Capital Holdings Plc now owns 21,763 shares of the industrial products company’s stock worth $9,221,000 after purchasing an additional 6,408 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.1%

NYSE DE opened at $471.35 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a 50-day simple moving average of $497.38 and a 200 day simple moving average of $490.24. Deere & Company has a twelve month low of $386.42 and a twelve month high of $533.78. The stock has a market cap of $127.42 billion, a PE ratio of 24.64, a PEG ratio of 3.06 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the company earned $6.29 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DE shares. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Robert W. Baird decreased their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Raymond James Financial upped their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $520.87.

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.