Trust Co. of Toledo NA OH Increases Stake in Deere & Company (NYSE:DE)

Trust Co. of Toledo NA OH increased its position in shares of Deere & Company (NYSE:DE) by 14.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,614 shares of the industrial products company’s stock after purchasing an additional 2,723 shares during the quarter. Deere & Company comprises approximately 1.2% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 16th biggest position. Trust Co. of Toledo NA OH’s holdings in Deere & Company were worth $9,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $26,000. Modus Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $32,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the 3rd quarter valued at $32,000. Centennial Bank AR grew its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC increased its stake in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $443.94.

Deere & Company Stock Performance

DE traded up $13.09 on Monday, reaching $421.66. The stock had a trading volume of 395,916 shares, compared to its average volume of 1,012,824. The business’s 50-day moving average price is $427.99 and its two-hundred day moving average price is $400.08. The company has a market cap of $115.37 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the business posted $8.26 earnings per share. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio (DPR) is 22.97%.

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.