Deere & Company $DE Shares Sold by Washington Trust Bank

Washington Trust Bank decreased its holdings in Deere & Company (NYSE:DE) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,147 shares of the industrial products company’s stock after selling 1,152 shares during the quarter. Washington Trust Bank’s holdings in Deere & Company were worth $13,570,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DE. Brighton Jones LLC lifted its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 150 shares during the last quarter. Jump Financial LLC purchased a new position in Deere & Company in the 2nd quarter valued at $2,153,000. NewEdge Advisors LLC lifted its holdings in Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its holdings in Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research report on Monday, March 9th. Raymond James Financial restated an “outperform” rating and set a $765.00 price target on shares of Deere & Company in a research report on Monday, February 23rd. Wolfe Research increased their price target on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $715.00 target price on shares of Deere & Company in a report on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $655.45.

Deere & Company Stock Up 2.4%

Shares of NYSE DE opened at $588.62 on Tuesday. The company has a market capitalization of $158.99 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The business has a 50-day moving average of $584.67 and a two-hundred day moving average of $534.45. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.Deere & Company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. On average, analysts forecast that Deere & Company will post 18.01 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Deere & Company’s payout ratio is 36.53%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.