Private Trust Co. NA Decreases Stock Position in Deere & Company $DE

Private Trust Co. NA trimmed its position in shares of Deere & Company (NYSE:DE) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,862 shares of the industrial products company’s stock after selling 49 shares during the quarter. Private Trust Co. NA’s holdings in Deere & Company were worth $1,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC bought a new stake in Deere & Company in the first quarter worth about $29,000. Cornerstone Planning Group LLC boosted its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company during the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DE shares. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Truist Financial lifted their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Oppenheimer cut their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Citigroup reduced their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $517.35.

Deere & Company Price Performance

DE opened at $458.63 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The business’s fifty day simple moving average is $473.24 and its 200-day simple moving average is $487.48. The company has a market capitalization of $123.98 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.94 and a beta of 1.02. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm earned $6.29 earnings per share. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Deere & 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.