WASHINGTON TRUST Co Has $3.39 Million Position in Deere & Company (NYSE:DE)

WASHINGTON TRUST Co grew its stake in Deere & Company (NYSE:DE) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,475 shares of the industrial products company’s stock after buying an additional 77 shares during the period. WASHINGTON TRUST Co’s holdings in Deere & Company were worth $3,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RB Capital Management LLC boosted its position in shares of Deere & Company by 5.2% during the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP bought a new position in Deere & Company in the first quarter worth approximately $14,541,000. Retirement Income Solutions Inc bought a new position in Deere & Company in the first quarter worth approximately $229,000. Sequoia Financial Advisors LLC raised its stake in shares of Deere & Company by 27.1% in the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Deere & Company by 32.4% in the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after purchasing an additional 27,985 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DE. Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Evercore ISI upped their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Finally, Stifel Nicolaus lowered their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $431.69.

Deere & Company Stock Up 0.4 %

DE stock traded up $1.73 during trading on Thursday, reaching $410.87. The stock had a trading volume of 705,260 shares, compared to its average volume of 1,519,522. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $114.37 billion, a P/E ratio of 11.97, a PEG ratio of 1.50 and a beta of 1.03. The firm has a fifty day moving average price of $379.82 and a 200 day moving average price of $381.32.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.55 EPS. On average, equities analysts anticipate that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

About Deere & Company

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.