Whittier Trust Co. Reduces Position in Deere & Company (NYSE:DE)

Whittier Trust Co. cut its holdings in shares of Deere & Company (NYSE:DE) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,625 shares of the industrial products company’s stock after selling 160 shares during the quarter. Whittier Trust Co.’s holdings in Deere & Company were worth $9,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DE. Northwest Investment Counselors LLC lifted its holdings in shares of Deere & Company by 10.6% in the third quarter. Northwest Investment Counselors LLC now owns 607 shares of the industrial products company’s stock worth $253,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter worth about $32,000. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Deere & Company by 16.2% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 98,400 shares of the industrial products company’s stock worth $40,945,000 after buying an additional 13,688 shares in the last quarter. MBE Wealth Management LLC purchased a new stake in shares of Deere & Company in the third quarter worth about $209,000. Finally, Vest Financial LLC lifted its holdings in shares of Deere & Company by 196.4% in the third quarter. Vest Financial LLC now owns 2,030 shares of the industrial products company’s stock worth $847,000 after buying an additional 1,345 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DE shares. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley lowered their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 0.4 %

Shares of Deere & Company stock opened at $407.05 on Tuesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The stock has a market capitalization of $112.17 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.35 and a beta of 0.92. The company’s 50 day moving average price is $394.28 and its 200-day moving average price is $385.26.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the business earned $10.20 earnings per share. The business’s revenue was down 20.3% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 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.