Deere & Company (NYSE:DE) Holdings Lifted by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 16.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,830 shares of the industrial products company’s stock after buying an additional 962 shares during the period. Plimoth Trust Co. LLC’s holdings in Deere & Company were worth $2,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Naviter Wealth LLC grew its stake in shares of Deere & Company by 97.7% in the first quarter. Naviter Wealth LLC now owns 2,604 shares of the industrial products company’s stock worth $1,073,000 after purchasing an additional 1,287 shares in the last quarter. Applied Capital LLC FL increased its stake in Deere & Company by 103.7% during the 1st quarter. Applied Capital LLC FL now owns 2,506 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 1,276 shares during the period. Cullinan Associates Inc. increased its stake in Deere & Company by 48.1% during the 1st quarter. Cullinan Associates Inc. now owns 27,198 shares of the industrial products company’s stock valued at $11,171,000 after buying an additional 8,832 shares during the period. AlphaMark Advisors LLC raised its position in shares of Deere & Company by 31.1% during the 1st quarter. AlphaMark Advisors LLC now owns 135 shares of the industrial products company’s stock worth $55,000 after buying an additional 32 shares in the last quarter. Finally, Silvia Mccoll Wealth Management LLC acquired a new stake in shares of Deere & Company in the 1st quarter worth approximately $238,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.1 %

Shares of Deere & Company stock opened at $364.95 on Wednesday. Deere & Company has a 1 year low of $353.15 and a 1 year high of $450.00. The company has a market cap of $100.57 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.50 and a beta of 0.93. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $384.54 and a 200 day moving average price of $387.09.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period last year, the company posted $9.65 earnings per share. As a group, analysts expect that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

A number of research analysts recently commented on DE shares. Stifel Nicolaus raised their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley boosted their price objective on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Oppenheimer reaffirmed an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. DA Davidson dropped their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Finally, Raymond James assumed coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $427.66.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

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.