Spinnaker Trust Has $6.96 Million Position in Deere & Company $DE

Spinnaker Trust lessened its stake in Deere & Company (NYSE:DE) by 0.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,687 shares of the industrial products company’s stock after selling 25 shares during the quarter. Spinnaker Trust’s holdings in Deere & Company were worth $6,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Nuveen LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $571,073,000. TD Asset Management Inc boosted its holdings in shares of Deere & Company by 132.0% in the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after buying an additional 410,636 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after buying an additional 256,806 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DE. Oppenheimer reduced their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Robert W. Baird reduced their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Wolfe Research reduced their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Trading Up 1.1%

Deere & Company stock opened at $473.16 on Thursday. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a market capitalization of $127.91 billion, a P/E ratio of 24.73, a PEG ratio of 3.01 and a beta of 1.02. The stock has a 50-day simple moving average of $468.82 and a 200 day simple moving average of $489.70.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping 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 company posted $6.29 earnings per share. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. Analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

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.