Bank of Jackson Hole Trust Grows Stake in Deere & Company $DE

Bank of Jackson Hole Trust lifted its stake in shares of Deere & Company (NYSE:DE) by 11.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,479 shares of the industrial products company’s stock after buying an additional 157 shares during the period. Bank of Jackson Hole Trust’s holdings in Deere & Company were worth $752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company during the second quarter worth $25,000. Activest Wealth Management lifted its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC lifted its stake 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 worth $31,000 after buying an additional 36 shares during the period. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company during the second quarter worth $38,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DE shares. Wolfe Research lowered their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. UBS Group restated a “buy” rating on shares of Deere & Company in a research report on Tuesday. Robert W. Baird decreased their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Citigroup decreased their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Finally, Truist Financial boosted their target price on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Trading Down 2.0%

Shares of Deere & Company stock opened at $468.59 on Wednesday. The firm has a 50-day simple moving average of $469.21 and a two-hundred day simple moving average of $489.60. The company has a market cap of $126.67 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 3.08 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last issued 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. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.29 earnings per share. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. 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 is 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.