MidFirst Bank Invests $1.17 Million in Deere & Company $DE

MidFirst Bank acquired a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,510 shares of the industrial products company’s stock, valued at approximately $1,169,000.

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

Deere & Company Stock Performance

DE opened at $590.37 on Friday. The firm has a market capitalization of $159.36 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. The stock’s 50 day moving average price is $573.71 and its two-hundred day moving average price is $552.66. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

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

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend 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 is 36.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DE shares. Truist Financial dropped their price target on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research note on Tuesday, May 26th. BMO Capital Markets boosted their target price on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Robert W. Baird dropped their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Finally, Citigroup reduced their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

About Deere & Company

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.