First National Bank & Trust Co. of Newtown Boosts Stock Position in Deere & Company (NYSE:DE)

First National Bank & Trust Co. of Newtown boosted its position in shares of Deere & Company (NYSE:DE) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,692 shares of the industrial products company’s stock after acquiring an additional 30 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Deere & Company were worth $706,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DE. Envestnet Portfolio Solutions Inc. increased its position in shares of Deere & Company by 37.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,157 shares of the industrial products company’s stock worth $4,582,000 after acquiring an additional 3,015 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Deere & Company by 29.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,578 shares of the industrial products company’s stock worth $2,291,000 after acquiring an additional 1,270 shares in the last quarter. PFG Advisors boosted its position in shares of Deere & Company by 0.8% during the 1st quarter. PFG Advisors now owns 6,415 shares of the industrial products company’s stock worth $2,635,000 after acquiring an additional 50 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Deere & Company by 10.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,116 shares of the industrial products company’s stock worth $5,387,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC increased its position in shares of Deere & Company by 9.1% during the first quarter. Sustainable Insight Capital Management LLC now owns 4,786 shares of the industrial products company’s stock worth $1,966,000 after purchasing an additional 400 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Oppenheimer reduced their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Performance

NYSE DE opened at $411.16 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The business’s 50-day moving average price is $402.27 and its 200 day moving average price is $385.56. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $112.49 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the business earned $10.20 EPS. On average, research analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is currently 20.06%.

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.