Horizon Bancorp Inc. IN Takes Position in Deere & Company $DE

Horizon Bancorp Inc. IN bought a new stake in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 100 shares of the industrial products company’s stock, valued at approximately $51,000.

Other large investors also recently modified their holdings of the company. Southland Equity Partners LLC boosted its stake in Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 20 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 21 shares during the period. Tyler Stone Wealth Management boosted its stake in Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 21 shares during the period. McLean Asset Management Corp boosted its stake in Deere & Company by 4.0% in the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 21 shares during the period. Finally, Trilogy Capital Inc. boosted its stake in Deere & Company by 1.3% in the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 21 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DE. Wolfe Research decreased their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Jefferies Financial Group decreased their target price on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Finally, Daiwa Capital Markets decreased their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $513.88.

Deere & Company Stock Down 1.1%

DE stock opened at $455.73 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The company has a fifty day simple moving average of $480.23 and a 200 day simple moving average of $488.58. The firm has a market cap of $123.20 billion, a PE ratio of 23.82, a PEG ratio of 2.97 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) 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 analyst estimates of $10.33 billion. During the same quarter in the previous year, the business earned $6.29 EPS. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is 33.87%.

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.