Deere & Company (NYSE:DE) Shares Acquired by Spinnaker Trust

Spinnaker Trust boosted its stake in Deere & Company (NYSE:DE) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,853 shares of the industrial products company’s stock after buying an additional 707 shares during the period. Spinnaker Trust’s holdings in Deere & Company were worth $5,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Briaud Financial Planning Inc acquired a new stake in shares of Deere & Company in the third quarter valued at $25,000. Rakuten Securities Inc. acquired a new position in Deere & Company in the 4th quarter valued at about $28,000. Naples Money Management LLC acquired a new position in Deere & Company in the 4th quarter valued at about $29,000. Bfsg LLC purchased a new stake in Deere & Company during the fourth quarter worth about $30,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $28,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE traded down $0.72 during midday trading on Friday, reaching $393.34. 998,333 shares of the stock were exchanged, compared to its average volume of 1,472,866. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The company has a market capitalization of $109.49 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.48 and a beta of 1.04. The business’s 50-day moving average price is $387.86 and its 200 day moving average price is $383.61.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.55 EPS. On average, sell-side analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is 17.12%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DE shares. Morgan Stanley began coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 target price on the stock. Citigroup reduced their price objective 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. Stifel Nicolaus decreased their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. upped their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $433.28.

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.