Canandaigua National Bank & Trust Co. Makes New Investment in Deere & Company $DE

Canandaigua National Bank & Trust Co. purchased a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, HoldingsChannel reports. The fund purchased 7,067 shares of the industrial products company’s stock, valued at approximately $4,483,000.

A number of other large investors have also recently modified their holdings of DE. Key Capital Management INC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $27,000. Timmons Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new stake in Deere & Company during the fourth quarter valued at approximately $30,000. Portus Wealth Advisors LLC purchased a new position in Deere & Company in the 1st quarter worth approximately $32,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 2.1%

NYSE DE opened at $617.64 on Wednesday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a 50-day moving average of $594.84 and a 200-day moving average of $582.79. The firm has a market cap of $166.73 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $6.64 EPS. As a group, sell-side analysts forecast that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DE. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Raymond James Financial lowered their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. DA Davidson reiterated a “buy” rating and set a $685.00 price objective on shares of Deere & Company in a research report on Friday, July 17th. Finally, Oppenheimer restated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $642.98.

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.