Plimoth Trust Co. LLC Sells 808 Shares of Deere & Company (NYSE:DE)

Plimoth Trust Co. LLC reduced its position in Deere & Company (NYSE:DE) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,182 shares of the industrial products company’s stock after selling 808 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $2,902,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DE. Brighton Jones LLC raised its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. Principal Securities Inc. grew its position in Deere & Company by 9.7% in the fourth quarter. Principal Securities Inc. now owns 4,329 shares of the industrial products company’s stock valued at $1,834,000 after acquiring an additional 381 shares during the period. Strategic Financial Concepts LLC raised its stake in Deere & Company by 16.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 783 shares of the industrial products company’s stock worth $332,000 after acquiring an additional 110 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of Deere & Company by 16.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,142 shares of the industrial products company’s stock valued at $5,998,000 after acquiring an additional 1,979 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Deere & Company by 1.2% in the 4th quarter. New York State Common Retirement Fund now owns 383,748 shares of the industrial products company’s stock valued at $162,594,000 after purchasing an additional 4,531 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. DA Davidson reaffirmed a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Robert W. Baird lifted their target price on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Truist Financial raised their price target on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $515.19.

Deere & Company Stock Up 0.4%

Shares of NYSE:DE opened at $525.02 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market cap of $142.19 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 3.32 and a beta of 1.09. The company has a 50 day moving average of $492.30 and a 200-day moving average of $469.71. Deere & Company has a one year low of $340.20 and a one year high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.53 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.