Riverview Trust Co Sells 363 Shares of Deere & Company $DE

Riverview Trust Co lowered its stake in shares of Deere & Company (NYSE:DE) by 15.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,997 shares of the industrial products company’s stock after selling 363 shares during the quarter. Deere & Company accounts for about 1.3% of Riverview Trust Co’s investment portfolio, making the stock its 12th largest holding. Riverview Trust Co’s holdings in Deere & Company were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Southland Equity Partners LLC grew its stake in Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 20 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after buying an additional 21 shares during the last quarter. Tyler Stone Wealth Management boosted its holdings in shares of Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after buying an additional 21 shares during the last quarter. McLean Asset Management Corp grew its position in Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after buying an additional 21 shares during the period. Finally, Trilogy Capital Inc. increased its holdings in Deere & Company by 1.3% during the second quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock worth $860,000 after buying an additional 21 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $451.43 on Thursday. 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 has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The stock has a market cap of $122.04 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03. The stock has a fifty day moving average of $486.80 and a 200-day moving average of $489.36.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate 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 return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.29 EPS. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Oppenheimer reduced their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Finally, Truist Financial lowered their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $518.06.

Deere & Company 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.