Comerica Bank trimmed its holdings in Deere & Company (NYSE:DE) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,705 shares of the industrial products company’s stock after selling 2,170 shares during the quarter. Comerica Bank’s holdings in Deere & Company were worth $21,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. BancorpSouth Bank grew its position in Deere & Company by 295.2% during the 4th quarter. BancorpSouth Bank now owns 5,355 shares of the industrial products company’s stock valued at $1,441,000 after purchasing an additional 4,000 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of Deere & Company by 194.9% during the 4th quarter. Great Valley Advisor Group Inc. now owns 8,193 shares of the industrial products company’s stock valued at $2,204,000 after acquiring an additional 5,415 shares during the last quarter. Signet Investment Advisory Group Inc. purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $961,000. Brendel Financial Advisors LLC purchased a new stake in shares of Deere & Company during the 1st quarter valued at about $2,970,000. Finally, First United Bank Trust lifted its stake in shares of Deere & Company by 6.9% in the 4th quarter. First United Bank Trust now owns 3,206 shares of the industrial products company’s stock worth $863,000 after purchasing an additional 208 shares during the period. Institutional investors own 66.77% of the company’s stock.

DE stock opened at $373.77 on Tuesday. The firm has a fifty day moving average price of $374.56 and a 200 day moving average price of $305.50. Deere & Company has a fifty-two week low of $117.85 and a fifty-two week high of $392.42. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.03 and a current ratio of 2.24. The firm has a market cap of $117.15 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $1.70. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.12 billion. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. Deere & Company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $1.63 earnings per share. On average, equities analysts predict that Deere & Company will post 13.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Shareholders of record on Wednesday, March 31st will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.96%. This is a positive change from Deere & Company’s previous quarterly dividend of $0.76. The ex-dividend date is Tuesday, March 30th. Deere & Company’s payout ratio is presently 41.43%.

Several brokerages have recently weighed in on DE. Jefferies Financial Group increased their price objective on shares of Deere & Company from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, January 15th. BMO Capital Markets raised their target price on shares of Deere & Company from $300.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday, January 25th. Robert W. Baird raised their target price on shares of Deere & Company from $353.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Credit Suisse Group raised their target price on shares of Deere & Company from $343.00 to $403.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Finally, Morgan Stanley raised their target price on shares of Deere & Company from $394.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Deere & Company has an average rating of “Buy” and an average target price of $327.95.

About Deere & Company

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

See Also: Consumer Price Index (CPI)

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

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