Smithfield Trust Co Has $2.03 Million Stock Position in Deere & Company (NYSE:DE)

Smithfield Trust Co increased its holdings in Deere & Company (NYSE:DE) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,866 shares of the industrial products company’s stock after purchasing an additional 150 shares during the period. Smithfield Trust Co’s holdings in Deere & Company were worth $2,030,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Crewe Advisors LLC acquired a new position in Deere & Company during the first quarter valued at approximately $69,000. LGT Group Foundation bought a new stake in Deere & Company during the first quarter valued at about $115,000. EP Wealth Advisors LLC grew its position in shares of Deere & Company by 19.0% in the first quarter. EP Wealth Advisors LLC now owns 2,879 shares of the industrial products company’s stock valued at $1,183,000 after purchasing an additional 460 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Deere & Company by 3.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 7,609 shares of the industrial products company’s stock worth $3,125,000 after purchasing an additional 223 shares during the last quarter. Finally, Capital International Inc. CA increased its position in Deere & Company by 24.9% in the 1st quarter. Capital International Inc. CA now owns 6,661 shares of the industrial products company’s stock worth $2,736,000 after buying an additional 1,326 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

Shares of NYSE DE opened at $405.11 on Thursday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The firm’s 50-day simple moving average is $404.97 and its 200 day simple moving average is $385.83. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $110.84 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were 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 was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DE shares. Bank of America raised their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Truist Financial boosted their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & 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.