Trustmark Bank Trust Department Has $3.78 Million Stock Position in Deere & Company $DE

Trustmark Bank Trust Department grew its holdings in Deere & Company (NYSE:DE) by 69.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,437 shares of the industrial products company’s stock after acquiring an additional 3,050 shares during the quarter. Trustmark Bank Trust Department’s holdings in Deere & Company were worth $3,782,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of DE. Vanguard Group Inc. boosted its holdings in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after purchasing an additional 309,081 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after buying an additional 111,627 shares in the last quarter. Norges Bank bought a new stake in shares of Deere & Company in the second quarter valued at approximately $1,578,243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Deere & Company by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after buying an additional 35,075 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $465.95 on Friday. Deere & Company has a twelve month low of $403.01 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock’s 50-day simple moving average is $467.10 and its 200 day simple moving average is $490.53. The firm has a market capitalization of $125.96 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period in the previous year, the firm posted $4.55 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. Daiwa Capital Markets lowered their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Citigroup decreased their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Wells Fargo & Company assumed coverage on shares of Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $519.45.

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.