Greenleaf Trust Has $8.09 Million Stock Position in Deere & Company (NYSE:DE)

Greenleaf Trust cut its stake in shares of Deere & Company (NYSE:DE) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,233 shares of the industrial products company’s stock after selling 290 shares during the period. Greenleaf Trust’s holdings in Deere & Company were worth $8,091,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. RB Capital Management LLC raised its stake in Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $14,541,000. Retirement Income Solutions Inc acquired a new stake in Deere & Company during the first quarter worth approximately $229,000. Sequoia Financial Advisors LLC increased its stake in Deere & Company by 27.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after acquiring an additional 521 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after acquiring an additional 27,985 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Citigroup decreased their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Trading Down 0.1 %

Shares of NYSE DE traded down $0.21 during midday trading on Friday, reaching $400.39. The stock had a trading volume of 1,125,178 shares, compared to its average volume of 1,496,266. The company’s 50 day moving average price is $385.47 and its 200 day moving average price is $382.79. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The firm has a market cap of $111.45 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the company posted $6.55 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

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.