Coastline Trust Co Sells 2,040 Shares of Deere & Company (NYSE:DE)

Coastline Trust Co cut its holdings in Deere & Company (NYSE:DE) by 38.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,280 shares of the industrial products company’s stock after selling 2,040 shares during the period. Coastline Trust Co’s holdings in Deere & Company were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Linscomb Wealth Inc. increased its stake in Deere & Company by 6.9% in the third quarter. Linscomb Wealth Inc. now owns 816 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 53 shares in the last quarter. Northcape Wealth Management LLC grew its stake in Deere & Company by 1.3% in the 3rd quarter. Northcape Wealth Management LLC now owns 7,560 shares of the industrial products company’s stock valued at $3,155,000 after purchasing an additional 97 shares during the period. Gouws Capital LLC increased its stake in shares of Deere & Company by 2.5% during the 3rd quarter. Gouws Capital LLC now owns 13,499 shares of the industrial products company’s stock worth $5,634,000 after purchasing an additional 335 shares during the last quarter. Empowered Funds LLC raised its stake in Deere & Company by 69.8% in the 3rd quarter. Empowered Funds LLC now owns 14,020 shares of the industrial products company’s stock valued at $5,851,000 after acquiring an additional 5,764 shares during the period. Finally, Empirical Finance LLC lifted its position in shares of Deere & Company by 1.9% during the third quarter. Empirical Finance LLC now owns 9,303 shares of the industrial products company’s stock worth $3,882,000 after acquiring an additional 170 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Citigroup boosted their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial raised their target price on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Morgan Stanley reduced their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Up 1.1 %

Shares of DE opened at $398.95 on Friday. The company’s fifty day simple moving average is $404.03 and its 200-day simple moving average is $385.69. The company has a market cap of $109.15 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the company posted $10.20 EPS. As a group, analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.