Deere & Company $DE Position Trimmed by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 26.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,320 shares of the industrial products company’s stock after selling 1,559 shares during the period. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $2,011,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Bouchey Financial Group Ltd boosted its holdings in Deere & Company by 4.4% during the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock worth $229,000 after buying an additional 21 shares in the last quarter. Silvant Capital Management LLC boosted its holdings in Deere & Company by 0.5% during the third quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock worth $2,034,000 after buying an additional 21 shares in the last quarter. Blue Chip Partners LLC boosted its holdings in Deere & Company by 1.4% during the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock worth $801,000 after buying an additional 21 shares in the last quarter. Forefront Wealth Partners LLC boosted its holdings in Deere & Company by 4.1% during the third quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock worth $258,000 after buying an additional 22 shares in the last quarter. Finally, Romano Brothers AND Company boosted its holdings in Deere & Company by 0.3% during the fourth quarter. Romano Brothers AND Company now owns 7,936 shares of the industrial products company’s stock worth $3,695,000 after buying an additional 22 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $715.00 price objective on shares of Deere & Company in a research note on Friday, February 20th. UBS Group raised their price objective on shares of Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Citigroup decreased their price objective on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research note on Monday, March 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $765.00 price objective on shares of Deere & Company in a research note on Monday, February 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Trading Up 1.0%

Shares of NYSE:DE opened at $590.10 on Friday. The firm has a fifty day moving average of $595.10 and a two-hundred day moving average of $521.74. The firm has a market capitalization of $159.39 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. On average, equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Deere & Company Company Profile

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.