Deere & Company (NYSE:DE) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lowered its stake in Deere & Company (NYSE:DE) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,447 shares of the industrial products company’s stock after selling 784 shares during the quarter. Deere & Company comprises about 2.5% of Washington Trust Advisors Inc.’s portfolio, making the stock its 13th biggest holding. Washington Trust Advisors Inc.’s holdings in Deere & Company were worth $29,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fairscale Capital LLC acquired a new position in Deere & Company in the second quarter worth approximately $26,000. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory bought a new position in Deere & Company in the third quarter worth $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the second quarter worth $37,000. Finally, Centennial Bank AR lifted its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE DE opened at $393.99 on Friday. The firm has a market cap of $107.80 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The business has a 50-day moving average price of $403.02 and a 200-day moving average price of $385.69. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.20 earnings per share. As a group, equities research analysts predict that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced 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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Analyst Ratings Changes

Several analysts have weighed in on DE shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $420.69.

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.