Trust Point Inc. Takes Position in Deere & Company (NYSE:DE)

Trust Point Inc. bought a new stake in Deere & Company (NYSE:DEFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,616 shares of the industrial products company’s stock, valued at approximately $1,446,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Associates Ltd. grew its position in Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 939 shares during the period. Osaic Holdings Inc. grew its position in Deere & Company by 5.6% during the second quarter. Osaic Holdings Inc. now owns 135,091 shares of the industrial products company’s stock valued at $54,775,000 after buying an additional 7,182 shares during the period. Penserra Capital Management LLC grew its position in Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after buying an additional 5,485 shares during the period. New Mexico Educational Retirement Board grew its position in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after buying an additional 900 shares during the period. Finally, Greenline Partners LLC bought a new position in Deere & Company during the second quarter valued at about $265,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DE. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Morgan Stanley began coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Stifel Nicolaus cut their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Evercore ISI increased their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $431.28.

View Our Latest Report on Deere & Company

Deere & Company Price Performance

DE traded up $0.30 on Wednesday, reaching $404.30. The company had a trading volume of 363,706 shares, compared to its average volume of 1,503,945. The business has a 50 day simple moving average of $382.31 and a 200 day simple moving average of $381.39. The company has a market cap of $112.54 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $6.55 earnings per share. As a group, sell-side analysts anticipate that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

About Deere & Company

(Free Report)

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.

Further Reading

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

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