Plimoth Trust Co. LLC Has $3.07 Million Position in Deere & Company $DE

Plimoth Trust Co. LLC cut its holdings in shares of Deere & Company (NYSE:DE) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,033 shares of the industrial products company’s stock after selling 149 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $3,068,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Deere & Company by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after buying an additional 35,075 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Deere & Company by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after buying an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. raised its position in Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer lowered their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. JPMorgan Chase & Co. reduced their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Saturday, September 27th. Daiwa Capital Markets cut their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Finally, DA Davidson reduced their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Trading Up 0.2%

Shares of NYSE:DE opened at $462.59 on Monday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The business has a 50 day moving average of $484.64 and a 200-day moving average of $489.24. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a market cap of $125.05 billion, a PE ratio of 24.18, a P/E/G ratio of 2.98 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share 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 analysts’ expectations 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 for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $6.29 EPS. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is presently 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.