Plimoth Trust Co. LLC Reduces Stock Position in Deere & Company (NYSE:DE)

Plimoth Trust Co. LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,956 shares of the industrial products company’s stock after selling 100 shares during the period. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $2,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Centaurus Financial Inc. increased its stake in shares of Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. boosted its holdings in Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 26 shares in the last quarter. Range Financial Group LLC increased its position in Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 27 shares during the period. Cooper Financial Group raised its holdings in Deere & Company by 2.4% in the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 27 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in shares of Deere & Company by 0.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock worth $1,293,000 after purchasing an additional 27 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DE. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Citigroup raised their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Finally, Truist Financial raised their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

DE traded down $1.77 during mid-day trading on Monday, reaching $406.96. 826,088 shares of the company traded hands, compared to its average volume of 1,467,432. The company’s fifty day moving average price is $393.03 and its 200-day moving average price is $385.26. The stock has a market capitalization of $112.15 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.20 earnings per share. On average, sell-side analysts expect that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Deere & Company 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.