Grove Bank & Trust Sells 60 Shares of Deere & Company (NYSE:DE)

Grove Bank & Trust lessened its holdings in Deere & Company (NYSE:DE) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,560 shares of the industrial products company’s stock after selling 60 shares during the quarter. Grove Bank & Trust’s holdings in Deere & Company were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in DE. Swedbank AB bought a new stake in Deere & Company during the first quarter worth about $191,628,000. Mawer Investment Management Ltd. purchased a new stake in Deere & Company during the second quarter valued at approximately $166,937,000. Dimensional Fund Advisors LP increased its holdings in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in shares of Deere & Company by 28,306.5% in the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock worth $934,000 after purchasing an additional 249,097 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 1.3 %

NYSE DE traded down $5.46 on Monday, hitting $405.62. 542,226 shares of the stock were exchanged, compared to its average volume of 1,478,575. The company has a market cap of $111.78 billion, a PE ratio of 12.36, a PEG 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 fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a 50-day moving average price of $387.01 and a 200-day moving average price of $385.27.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $10.20 EPS. Sell-side analysts anticipate that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley decreased their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price 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.