Raymond James Trust N.A. Sells 667 Shares of Deere & Company (NYSE:DE)

Raymond James Trust N.A. trimmed its stake in Deere & Company (NYSE:DE) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 14,466 shares of the industrial products company’s stock after selling 667 shares during the period. Raymond James Trust N.A.’s holdings in Deere & Company were worth $6,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AlphaCore Capital LLC increased its holdings in shares of Deere & Company by 4.8% during the third quarter. AlphaCore Capital LLC now owns 4,634 shares of the industrial products company’s stock valued at $1,934,000 after acquiring an additional 211 shares in the last quarter. 49 Wealth Management LLC acquired a new stake in Deere & Company in the 3rd quarter valued at $924,000. Smithfield Trust Co increased its stake in Deere & Company by 3.2% during the 3rd quarter. Smithfield Trust Co now owns 4,866 shares of the industrial products company’s stock valued at $2,030,000 after purchasing an additional 150 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Deere & Company by 2.3% during the third quarter. Pacer Advisors Inc. now owns 18,998 shares of the industrial products company’s stock worth $7,928,000 after buying an additional 425 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in shares of Deere & Company by 435.2% in the third quarter. Thompson Siegel & Walmsley LLC now owns 15,108 shares of the industrial products company’s stock valued at $6,305,000 after buying an additional 12,285 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DE. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Oppenheimer upped their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $431.61.

Deere & Company Stock Performance

Shares of DE stock opened at $446.65 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $122.20 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 1.54 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The firm’s 50-day simple moving average is $406.99 and its two-hundred day simple moving average is $386.49.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio is presently 20.06%.

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.