Deere & Company (NYSE:DE) Shares Sold by Norway Savings Bank

Norway Savings Bank lessened its holdings in Deere & Company (NYSE:DE) by 27.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,016 shares of the industrial products company’s stock after selling 745 shares during the quarter. Norway Savings Bank’s holdings in Deere & Company were worth $841,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DE. Tompkins Financial Corp lifted its stake in Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 25 shares in the last quarter. Centaurus Financial Inc. lifted its stake in Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its stake in Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after acquiring an additional 26 shares in the last quarter. Cooper Financial Group boosted its holdings in Deere & Company by 2.4% during the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 27 shares during the period. Finally, Range Financial Group LLC grew its position in Deere & Company by 5.2% in the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE traded down $0.27 on Tuesday, hitting $407.45. 316,914 shares of the company’s stock were exchanged, compared to its average volume of 1,475,020. The firm has a market cap of $112.28 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.35 and a beta of 0.92. The firm’s 50-day moving average price is $388.27 and its two-hundred day moving average price is $385.25. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. 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 (NYSE:DE) last released its quarterly earnings data 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 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 posted $10.20 earnings per share. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The business 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 $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DE shares. Evercore ISI raised their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Morgan Stanley dropped 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 note on Monday, August 26th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America boosted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company 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.