Deere & Company (NYSE:DE) Shares Sold by Grove Bank & Trust

Grove Bank & Trust lessened its holdings in Deere & Company (NYSE:DE) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,560 shares of the industrial products company’s stock after selling 60 shares during the quarter. Grove Bank & Trust’s holdings in Deere & Company were worth $651,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new position in Deere & Company in the second quarter worth $26,000. Pineridge Advisors LLC lifted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in Deere & Company in the fourth quarter valued at $30,000. Spartan Planning & Wealth Management bought a new stake in Deere & Company in the fourth quarter valued at $33,000. Finally, Olistico Wealth LLC bought a new stake in Deere & Company in the second quarter valued at $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE traded down $5.46 during trading on Monday, reaching $405.62. 542,226 shares of the company traded hands, compared to its average volume of 1,478,575. The company’s 50 day moving average is $387.01 and its two-hundred day moving average is $385.27. The firm has a market capitalization of $111.78 billion, a PE ratio of 12.36, a PEG ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share 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 business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the company earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent research reports. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Citigroup boosted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average target price 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.