Plimoth Trust Co. LLC lessened its position in shares of Deere & Company (NYSE:DE) by 22.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,892 shares of the industrial products company’s stock after selling 552 shares during the period. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. CX Institutional lifted its position in shares of Deere & Company by 662.5% during the 2nd quarter. CX Institutional now owns 183 shares of the industrial products company’s stock worth $29,000 after buying an additional 159 shares during the last quarter. Fiduciary Planning LLC bought a new position in shares of Deere & Company in the third quarter worth about $44,000. TCTC Holdings LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $47,000. Baystate Wealth Management LLC grew its holdings in shares of Deere & Company by 32.6% during the 2nd quarter. Baystate Wealth Management LLC now owns 321 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 79 shares during the last quarter. Finally, Watson Rebecca bought a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $55,000. Institutional investors and hedge funds own 67.77% of the company’s stock.
A number of research firms have weighed in on DE. Credit Suisse Group boosted their target price on shares of Deere & Company from $179.00 to $223.00 and gave the stock an “outperform” rating in a research note on Monday, August 24th. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating and set a $202.00 price target for the company in a research note on Tuesday, July 28th. Royal Bank of Canada increased their price target on Deere & Company from $180.00 to $228.00 and gave the company an “outperform” rating in a research note on Monday, August 24th. Jefferies Financial Group increased their price target on Deere & Company from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, Sanford C. Bernstein assumed coverage on Deere & Company in a research note on Tuesday, September 22nd. They issued a “market perform” rating and a $244.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Deere & Company currently has a consensus rating of “Buy” and a consensus price target of $215.14.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, August 21st. The industrial products company reported $2.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $1.31. Deere & Company had a net margin of 7.61% and a return on equity of 22.24%. The company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the prior year, the company posted $2.71 earnings per share. Deere & Company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 7.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, September 29th. Deere & Company’s payout ratio is 30.58%.
In other news, insider Pentz Markwart Von sold 9,912 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $185.00, for a total transaction of $1,833,720.00. Following the completion of the sale, the insider now owns 70,324 shares in the company, valued at $13,009,940. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Marc A. Howze sold 7,996 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $208.17, for a total value of $1,664,527.32. Following the transaction, the chief accounting officer now directly owns 22,440 shares in the company, valued at $4,671,334.80. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
About Deere & Company
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural management systems technology and solutions; and other outdoor power products.
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