Park National Corp OH Decreases Holdings in Deere & Company $DE

Park National Corp OH decreased its stake in Deere & Company (NYSE:DE) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,049 shares of the industrial products company’s stock after selling 9,413 shares during the quarter. Park National Corp OH’s holdings in Deere & Company were worth $14,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Strategic Advocates LLC purchased a new position in Deere & Company in the 3rd quarter valued at about $25,000. Key Capital Management INC acquired a new stake in Deere & Company in the 4th quarter worth about $27,000. Timmons Wealth Management LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.2%

DE opened at $590.37 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The company’s 50 day simple moving average is $573.71 and its two-hundred day simple moving average is $552.66. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market capitalization of $159.36 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.64 EPS. Analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DE. Morgan Stanley raised their target price on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Oppenheimer reissued an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Truist Financial decreased their price objective on Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Finally, Robert W. Baird lowered their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.