Private Trust Co. NA Sells 1,296 Shares of Deere & Company (NYSE:DE)

Private Trust Co. NA cut its holdings in shares of Deere & Company (NYSE:DE) by 36.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,300 shares of the industrial products company’s stock after selling 1,296 shares during the period. Private Trust Co. NA’s holdings in Deere & Company were worth $960,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Fairscale Capital LLC bought a new position in Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC grew its holdings in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 3rd quarter worth about $32,000. Olistico Wealth LLC bought a new position in shares of Deere & Company in the 2nd quarter worth about $37,000. Finally, Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 3.6 %

DE stock opened at $462.81 on Tuesday. The stock has a market cap of $126.62 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.75 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock’s fifty day simple moving average is $408.35 and its two-hundred day simple moving average is $386.60. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the firm earned $8.26 EPS. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. Analysts expect that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 22.97%.

Analyst Ratings Changes

A number of research firms have issued reports on DE. Citigroup increased their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Barclays increased their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial boosted their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $433.00.

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.