Greenleaf Trust Lowers Position in Deere & Company (NYSE:DE)

Greenleaf Trust decreased its holdings in shares of Deere & Company (NYSE:DE) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Pinnacle Associates Ltd. raised its position in shares of Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 939 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board increased its position in shares of Deere & Company by 6.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after purchasing an additional 900 shares during the last quarter. Centric Wealth Management purchased a new position in shares of Deere & Company during the 3rd quarter valued at about $2,640,000. Finally, Graham Capital Management L.P. lifted its position in Deere & Company by 483.3% in the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after buying an additional 14,500 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.1 %

Deere & Company stock traded down $0.21 during mid-day trading on Friday, reaching $400.39. 1,125,178 shares of the company traded hands, compared to its average volume of 1,496,266. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The firm has a market capitalization of $111.45 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.49 and a beta of 1.04. The firm’s 50 day moving average price is $385.47 and its 200 day moving average price is $382.79.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the previous year, the company earned $6.55 earnings per share. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, analysts anticipate that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

DE has been the topic of several research reports. Citigroup decreased their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target 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.