Plimoth Trust Co. LLC Has $2.01 Million Position in Deere & Company $DE

Plimoth Trust Co. LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 26.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,320 shares of the industrial products company’s stock after selling 1,559 shares during the period. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $2,011,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bouchey Financial Group Ltd raised its holdings in shares of Deere & Company by 4.4% during the 3rd quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 21 shares in the last quarter. Silvant Capital Management LLC raised its holdings in shares of Deere & Company by 0.5% during the 3rd quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock valued at $2,034,000 after purchasing an additional 21 shares in the last quarter. Blue Chip Partners LLC raised its holdings in shares of Deere & Company by 1.4% during the 2nd quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock valued at $801,000 after purchasing an additional 21 shares in the last quarter. Forefront Wealth Partners LLC raised its holdings in shares of Deere & Company by 4.1% during the 3rd quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 22 shares in the last quarter. Finally, Romano Brothers AND Company raised its holdings in shares of Deere & Company by 0.3% during the 4th quarter. Romano Brothers AND Company now owns 7,936 shares of the industrial products company’s stock valued at $3,695,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DE. Truist Financial raised their price target on shares of Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a report on Friday, February 20th. Citigroup cut their price target on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a report on Monday, March 9th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Wells Fargo & Company raised their price target on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a report on Wednesday, April 8th. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Stock Performance

Shares of DE opened at $590.10 on Friday. The company has a market capitalization of $159.39 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The company’s fifty day moving average price is $595.10 and its 200 day moving average price is $521.74.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. As a group, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.