Deere & Company $DE Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its position in Deere & Company (NYSE:DE) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,312 shares of the industrial products company’s stock after selling 46 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Deere & Company were worth $3,718,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Activest Wealth Management lifted its holdings in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the second quarter worth $39,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. JPMorgan Chase & Co. reduced their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. Citigroup reduced their target price on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Finally, Robert W. Baird reduced their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $520.87.

Deere & Company Trading Down 1.1%

Shares of DE stock opened at $471.35 on Monday. Deere & Company has a fifty-two week low of $386.42 and a fifty-two week high of $533.78. The stock has a market cap of $127.42 billion, a P/E ratio of 24.64, a P/E/G ratio of 3.02 and a beta of 1.00. The business has a fifty day simple moving average of $497.38 and a 200-day simple moving average of $490.39. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the business posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Deere & 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.