Smithfield Trust Co. Acquires 520 Shares of Deere & Company (DE)

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Smithfield Trust Co. lifted its holdings in shares of Deere & Company (NYSE:DE) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,355 shares of the industrial products company’s stock after buying an additional 520 shares during the period. Smithfield Trust Co.’s holdings in Deere & Company were worth $536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Man Group plc increased its stake in Deere & Company by 4.8% in the 3rd quarter. Man Group plc now owns 24,155 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 1,106 shares during the period. Neuberger Berman Group LLC increased its stake in Deere & Company by 11.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 358,825 shares of the industrial products company’s stock worth $53,942,000 after purchasing an additional 35,597 shares during the period. Teachers Advisors LLC increased its stake in Deere & Company by 5.3% in the 3rd quarter. Teachers Advisors LLC now owns 842,016 shares of the industrial products company’s stock worth $126,580,000 after purchasing an additional 42,372 shares during the period. TIAA CREF Investment Management LLC increased its stake in Deere & Company by 15.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,936,879 shares of the industrial products company’s stock worth $291,171,000 after purchasing an additional 257,466 shares during the period. Finally, Standard Life Aberdeen plc increased its stake in Deere & Company by 532.2% in the 3rd quarter. Standard Life Aberdeen plc now owns 832,656 shares of the industrial products company’s stock worth $125,190,000 after purchasing an additional 700,946 shares during the period. Institutional investors and hedge funds own 68.25% of the company’s stock.

Shares of DE stock opened at $165.50 on Friday. The firm has a market capitalization of $52.75 billion, a P/E ratio of 17.63, a PEG ratio of 1.74 and a beta of 0.90. Deere & Company has a twelve month low of $128.32 and a twelve month high of $169.99. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.68 and a current ratio of 1.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.22). The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. Deere & Company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 11.17 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, March 28th. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

DE has been the topic of a number of analyst reports. Credit Suisse Group decreased their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 19th. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and reduced their target price for the company from $173.00 to $170.00 in a research note on Wednesday, February 13th. DZ Bank cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Argus boosted their target price on Deere & Company to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Finally, OTR Global raised Deere & Company to a “positive” rating in a research note on Friday, January 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $179.43.

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Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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