Deere & Company (NYSE:DE) Shares Sold by Spinnaker Trust

Spinnaker Trust lowered its position in Deere & Company (NYSE:DE) by 5.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,935 shares of the industrial products company’s stock after selling 826 shares during the period. Spinnaker Trust’s holdings in Deere & Company were worth $5,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% in the 1st 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 purchased a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR boosted its stake in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.4 %

Shares of DE stock traded up $5.69 during mid-day trading on Wednesday, hitting $406.06. 565,725 shares of the company’s stock were exchanged, compared to its average volume of 1,431,833. 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 stock has a market cap of $111.10 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.52 and a beta of 0.93. The stock has a 50-day simple moving average of $401.71 and a two-hundred day simple moving average of $385.41. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 36.71% and a net margin of 14.69%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.20 earnings per share. Equities analysts expect that Deere & Company will post 25 EPS for the current fiscal 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 paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DE. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Finally, Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.