Stewart & Patten Co. LLC decreased its holdings in Deere & Company (NYSE:DE) by 23.7% in the 1st quarter, HoldingsChannel reports. The firm owned 1,610 shares of the industrial products company’s stock after selling 500 shares during the period. Stewart & Patten Co. LLC’s holdings in Deere & Company were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Destination Wealth Management grew its stake in Deere & Company by 20,500.0% during the fourth quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 205 shares in the last quarter. Legacy Financial Advisors Inc. grew its stake in Deere & Company by 155.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 145 shares in the last quarter. Athena Capital Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $36,000. Lavaca Capital LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $41,000. Finally, Berman Capital Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

A number of equities analysts have commented on DE shares. Zacks Investment Research cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Argus boosted their price objective on shares of Deere & Company to $175.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. Bank of America lowered shares of Deere & Company from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $173.00 to $170.00 in a report on Wednesday, February 13th. Credit Suisse Group restated a “buy” rating and issued a $211.00 price objective on shares of Deere & Company in a report on Tuesday, January 8th. Finally, OTR Global upgraded shares of Deere & Company to a “positive” rating in a report on Friday, January 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $176.73.

Shares of NYSE:DE traded up $2.98 during midday trading on Thursday, reaching $168.43. The company’s stock had a trading volume of 551,299 shares, compared to its average volume of 2,005,100. The company has a market capitalization of $53.69 billion, a PE ratio of 17.94, a P/E/G ratio of 1.71 and a beta of 0.90. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68. Deere & Company has a 12-month low of $128.32 and a 12-month high of $167.82.

Deere & Company (NYSE:DE) last released its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 11.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, March 29th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, March 28th. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

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Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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