Dorsey & Whitney Trust CO LLC Buys 183 Shares of Deere & Company (NYSE:DE)

Dorsey & Whitney Trust CO LLC lifted its stake in Deere & Company (NYSE:DE) by 5.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,581 shares of the industrial products company’s stock after acquiring an additional 183 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Deere & Company were worth $1,338,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC lifted its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Pineridge Advisors LLC lifted its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Private Wealth Management Group LLC bought a new position in Deere & Company during the fourth quarter worth about $29,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the fourth quarter worth about $30,000. Finally, Spartan Planning & Wealth Management bought a new position in Deere & Company during the fourth quarter worth about $33,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DE. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup cut their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. DA Davidson cut their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $414.11.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $387.30 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market cap of $105.97 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.27 and a beta of 0.92. The firm has a 50 day simple moving average of $370.01 and a 200 day simple moving average of $381.05. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 EPS. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.