Deere & Company (NYSE:DE) Shares Bought by Eastern Bank

Eastern Bank grew its position in Deere & Company (NYSE:DE) by 293.7% in the third quarter, HoldingsChannel reports. The fund owned 4,059 shares of the industrial products company’s stock after acquiring an additional 3,028 shares during the quarter. Eastern Bank’s holdings in Deere & Company were worth $1,694,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mattern Wealth Management LLC raised its holdings in Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the period. Centaurus Financial Inc. raised its stake in shares of 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 buying an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. raised its stake in shares of 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 buying an additional 26 shares during the period. Cornerstone Wealth Management LLC grew its stake in Deere & Company by 0.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock valued at $1,293,000 after acquiring an additional 27 shares during the period. Finally, First Foundation Advisors increased its holdings in Deere & Company by 2.3% in the 1st quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 28 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.1 %

Shares of DE opened at $406.65 on Wednesday. The company’s 50-day simple moving average is $395.40 and its 200-day simple moving average is $385.21. 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 1 year low of $340.20 and a 1 year high of $420.47. The stock has a market capitalization of $112.06 billion, a PE ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the business earned $10.20 EPS. Analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

Several equities analysts have issued reports on DE shares. Morgan Stanley decreased their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Raymond James began coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup lifted their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

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.