Indiana Trust & Investment Management CO Trims Holdings in Deere & Company (NYSE:DE)

Indiana Trust & Investment Management CO reduced its holdings in shares of Deere & Company (NYSE:DE) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,769 shares of the industrial products company’s stock after selling 76 shares during the period. Indiana Trust & Investment Management CO’s holdings in Deere & Company were worth $727,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DE. Norges Bank bought a new position in shares of Deere & Company during the fourth quarter valued at $1,248,036,000. International Assets Investment Management LLC increased its stake in Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after purchasing an additional 838,813 shares in the last quarter. Parnassus Investments LLC raised its holdings in Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after buying an additional 160,369 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after buying an additional 150,713 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DE shares. Raymond James began coverage on shares of Deere & Company in a report on Friday. They issued an “outperform” rating and a $420.00 price objective for the company. Morgan Stanley increased their price objective on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. TD Cowen raised their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $430.55.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Price Performance

Shares of DE traded down $3.16 during mid-day trading on Friday, reaching $373.63. The stock had a trading volume of 6,689,441 shares, compared to its average volume of 1,519,037. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The firm has a market cap of $102.96 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.51 and a beta of 0.98. The business has a fifty day moving average of $386.34 and a 200 day moving average of $387.01.

Deere & Company (NYSE:DE) last released its 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 firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.65 earnings per share. Equities analysts predict that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is presently 17.70%.

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.