Deere & Company (NYSE:DE) Shares Sold by Webster Bank N. A.

Webster Bank N. A. lessened its holdings in Deere & Company (NYSE:DE) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,352 shares of the industrial products company’s stock after selling 27 shares during the period. Webster Bank N. A.’s holdings in Deere & Company were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Taylor Financial Group Inc. acquired a new position in Deere & Company in the fourth quarter valued at approximately $218,000. Sunpointe LLC acquired a new position in Deere & Company during the fourth quarter worth $274,000. GLOBALT Investments LLC GA acquired a new stake in shares of Deere & Company in the fourth quarter valued at $415,000. Novak & Powell Financial Services Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at $210,000. Finally, Integrated Advisors Network LLC increased its holdings in Deere & Company by 10.8% in the fourth quarter. Integrated Advisors Network LLC now owns 3,918 shares of the industrial products company’s stock valued at $1,567,000 after buying an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on DE shares. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Morgan Stanley reduced their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Evercore ISI raised their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Up 1.3 %

DE stock traded up $5.32 during midday trading on Friday, reaching $411.08. 653,446 shares of the company’s stock traded hands, compared to its average volume of 1,483,328. The business has a 50-day moving average price of $387.01 and a two-hundred day moving average price of $385.44. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a market capitalization of $113.28 billion, a P/E ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the business earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 25.03 EPS 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. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date 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.