Washington Trust Bank Acquires 200 Shares of Deere & Company (NYSE:DE)

Washington Trust Bank boosted its holdings in Deere & Company (NYSE:DE) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,131 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. Washington Trust Bank’s holdings in Deere & Company were worth $12,575,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DE. Fairscale Capital LLC bought a new stake in Deere & Company in the second quarter worth $26,000. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the third quarter valued at about $32,000. Olistico Wealth LLC bought a new position in shares of Deere & Company during the second quarter valued at about $37,000. Finally, Centennial Bank AR raised its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.6 %

DE traded up $2.37 during midday trading on Thursday, reaching $408.08. The company’s stock had a trading volume of 31,460 shares, compared to its average volume of 1,430,435. The firm has a market capitalization of $111.65 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.52 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock’s 50-day moving average is $402.27 and its 200-day moving average is $385.56.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.20 earnings per share. As a group, research analysts expect that Deere & Company will post 25 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. Shareholders 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 yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DE. Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $420.69.

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.