Washington Trust Bank decreased its position in shares of Deere & Company (NYSE:DE – Free Report) by 10.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,792 shares of the industrial products company’s stock after selling 2,722 shares during the quarter. Deere & Company makes up approximately 1.0% of Washington Trust Bank’s holdings, making the stock its 24th largest holding. Washington Trust Bank’s holdings in Deere & Company were worth $14,458,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Cary Street Partners Financial LLC lifted its holdings in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 1,086 shares during the period. Baxter Bros Inc. acquired a new stake in Deere & Company during the 2nd quarter worth $1,707,000. Global Retirement Partners LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at $3,890,000. Westpac Banking Corp raised its position in shares of Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after acquiring an additional 3,047 shares during the last quarter. Finally, TRB Wealth Management LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $623,000. 68.58% of the stock is currently owned by institutional investors.
Deere & Company Trading Up 1.3%
NYSE:DE opened at $630.66 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The business has a 50 day moving average price of $611.59 and a two-hundred day moving average price of $593.34. The company has a market cap of $170.24 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is presently 36.00%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Barclays upped their price objective on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. DA Davidson upped their price target on Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Citigroup increased their price target on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Raymond James Financial reduced their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, August 24th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $653.48.
Check Out Our Latest Analysis on Deere & Company
Deere & Company 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.
Featured Stories
- Five stocks we like better than Deere & Company
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE – Free Report).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.
