Fifth Third Bancorp Has $108.38 Million Stock Holdings in Deere & Company (NYSE:DE)

Fifth Third Bancorp trimmed its position in Deere & Company (NYSE:DE) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,924 shares of the industrial products company’s stock after selling 4,912 shares during the period. Fifth Third Bancorp’s holdings in Deere & Company were worth $108,384,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Banque Pictet & Cie SA grew its stake in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after acquiring an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC lifted its holdings in Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after purchasing an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Deere & Company during the 4th quarter valued at $847,000. BankPlus Trust Department acquired a new stake in Deere & Company during the 4th quarter valued at $1,127,000. Finally, Stenger Family Office LLC acquired a new stake in Deere & Company during the 4th quarter valued at $3,144,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DE. Evercore ISI lifted their target price on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. DA Davidson reissued a “buy” rating and set a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $515.19.

Deere & Company Trading Up 1.0%

NYSE DE opened at $520.72 on Thursday. The company has a market capitalization of $141.03 billion, a PE ratio of 23.08, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a fifty day moving average of $483.40 and a 200 day moving average of $467.81. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.53 earnings per share. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. Deere & Company’s dividend payout ratio is currently 31.35%.

Deere & Company 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.