Bryn Mawr Trust Advisors LLC Purchases New Shares in Deere & Company $DE

Bryn Mawr Trust Advisors LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 906 shares of the industrial products company’s stock, valued at approximately $575,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC increased its holdings in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC lifted its holdings in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after buying an additional 30,553 shares during the last quarter. Westpac Banking Corp grew its position in shares of Deere & Company by 78.6% in the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after acquiring an additional 3,047 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Deere & Company by 13.4% in the 4th quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock worth $180,919,000 after acquiring an additional 45,782 shares in the last quarter. Finally, Vise Technologies Inc. increased its holdings in shares of Deere & Company by 46.1% in the 4th quarter. Vise Technologies Inc. now owns 6,265 shares of the industrial products company’s stock valued at $2,917,000 after acquiring an additional 1,977 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Truist Financial upped their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Raymond James Financial dropped their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. DA Davidson restated a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a report on Friday. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $641.98.

Deere & Company Trading Down 0.6%

Shares of NYSE DE opened at $608.73 on Friday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock’s 50 day simple moving average is $603.23 and its 200 day simple moving average is $587.77.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the business earned $6.64 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.