Park National Corp OH Has $26.71 Million Position in Deere & Company (NYSE:DE)

Park National Corp OH lifted its position in Deere & Company (NYSE:DE) by 19.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,923 shares of the industrial products company’s stock after acquiring an additional 10,887 shares during the period. Deere & Company makes up approximately 1.2% of Park National Corp OH’s holdings, making the stock its 23rd biggest holding. Park National Corp OH’s holdings in Deere & Company were worth $26,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DE. University of Texas Texas AM Investment Managment Co. increased its holdings in shares of Deere & Company by 1,475.0% in the first quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Lansing Street Advisors grew its position in shares of Deere & Company by 1,725.0% in the 1st quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Barrett & Company Inc. bought a new stake in Deere & Company during the 1st quarter worth approximately $31,000. Worth Asset Management LLC acquired a new stake in Deere & Company during the 1st quarter worth approximately $28,000. Finally, 25 LLC bought a new position in Deere & Company in the first quarter valued at approximately $34,000. Institutional investors own 66.27% of the company’s stock.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 4,680 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $449.75, for a total value of $2,104,830.00. Following the transaction, the insider now directly owns 36,563 shares in the company, valued at $16,444,209.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Deere & Company news, insider Cory J. Reed sold 4,680 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $449.75, for a total transaction of $2,104,830.00. Following the completion of the sale, the insider now directly owns 36,563 shares in the company, valued at $16,444,209.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $416.02, for a total value of $22,035,331.34. Following the completion of the transaction, the chief executive officer now directly owns 109,126 shares in the company, valued at approximately $45,398,598.52. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Up 1.5 %

Deere & Company stock opened at $408.11 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.98 and a quick ratio of 1.74. The company’s 50-day moving average is $417.51 and its 200-day moving average is $399.11. The firm has a market capitalization of $117.54 billion, a PE ratio of 11.89, a P/E/G ratio of 0.93 and a beta of 1.07. Deere & Company has a fifty-two week low of $328.62 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share for the quarter, topping analysts’ consensus estimates of $8.22 by $1.98. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The firm had revenue of $14.28 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the business earned $6.16 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 33.9 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Friday, September 29th will be issued a dividend of $1.35 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.40 annualized dividend and a yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is currently 15.96%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research reports. Credit Suisse Group lowered their price objective on shares of Deere & Company from $560.00 to $551.00 and set an “outperform” rating for the company in a research report on Monday, August 21st. Stifel Nicolaus dropped their price target on Deere & Company from $493.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, August 21st. BMO Capital Markets cut their price target on Deere & Company from $450.00 to $425.00 in a report on Monday, June 5th. Wells Fargo & Company decreased their price objective on Deere & Company from $510.00 to $490.00 in a report on Monday, May 22nd. Finally, UBS Group boosted their target price on Deere & Company from $383.00 to $408.00 and gave the company a “neutral” rating in a research note on Monday, August 21st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $458.53.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.