Spinnaker Trust Has $5.14 Million Stake in Deere & Company (NYSE:DE)

Spinnaker Trust lifted its stake in Deere & Company (NYSE:DE) by 5.8% during the fourth quarter, Holdings Channel reports. The fund owned 12,853 shares of the industrial products company’s stock after acquiring an additional 707 shares during the quarter. Spinnaker Trust’s holdings in Deere & Company were worth $5,140,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. K.J. Harrison & Partners Inc bought a new position in Deere & Company in the 4th quarter worth approximately $408,000. Callan Capital LLC acquired a new stake in Deere & Company in the 4th quarter worth $211,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Deere & Company by 55.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 28,098 shares of the industrial products company’s stock worth $11,236,000 after purchasing an additional 10,029 shares during the period. VCI Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $1,166,000. Finally, Abbrea Capital LLC lifted its stake in shares of Deere & Company by 2.8% in the fourth quarter. Abbrea Capital LLC now owns 1,288 shares of the industrial products company’s stock valued at $517,000 after buying an additional 35 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.2 %

Shares of Deere & Company stock traded down $0.72 during trading hours on Friday, hitting $393.34. The company’s stock had a trading volume of 998,333 shares, compared to its average volume of 1,472,866. The company has a market capitalization of $109.49 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. 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 stock has a 50 day moving average of $387.86 and a 200 day moving average of $383.61. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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 return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the firm earned $6.55 EPS. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. Analysts predict that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. raised their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Stifel Nicolaus dropped their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently 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.