Deere & Company $DE Holdings Trimmed by Ledyard National Bank

Ledyard National Bank trimmed its position in shares of Deere & Company (NYSE:DE) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,157 shares of the industrial products company’s stock after selling 30 shares during the period. Ledyard National Bank’s holdings in Deere & Company were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio grew its position in Deere & Company by 7.3% during the 2nd quarter. Strs Ohio now owns 63,246 shares of the industrial products company’s stock worth $32,160,000 after purchasing an additional 4,322 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its position in Deere & Company by 7.8% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 496 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 36 shares in the last quarter. Prairie Wealth Advisors Inc. lifted its position in shares of Deere & Company by 2.1% in the second quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after purchasing an additional 20 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Deere & Company by 41.4% during the second quarter. Atria Investments Inc now owns 17,927 shares of the industrial products company’s stock worth $9,116,000 after purchasing an additional 5,249 shares during the period. Finally, Savvy Advisors Inc. boosted its holdings in shares of Deere & Company by 10.4% during the second quarter. Savvy Advisors Inc. now owns 3,102 shares of the industrial products company’s stock worth $1,577,000 after purchasing an additional 291 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.6%

DE stock opened at $465.99 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. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The company has a fifty day simple moving average of $468.41 and a 200 day simple moving average of $489.53. The firm has a market cap of $125.97 billion, a PE ratio of 24.36, a PEG ratio of 3.05 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the business earned $6.29 EPS. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS 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. Stockholders of record on Tuesday, September 30th will be paid 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 is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Wall Street Analyst Weigh In

Several research firms recently commented on DE. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Robert W. Baird dropped their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Royal Bank Of Canada assumed coverage on Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $518.72.

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.