Weybosset Research & Management LLC Has $20.82 Million Stake in Deere & Company (NYSE:DE)

Weybosset Research & Management LLC trimmed its position in Deere & Company (NYSE:DE) by 2.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 50,690 shares of the industrial products company’s stock after selling 1,041 shares during the period. Deere & Company makes up about 7.9% of Weybosset Research & Management LLC’s holdings, making the stock its 3rd largest holding. Weybosset Research & Management LLC’s holdings in Deere & Company were worth $20,820,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Tompkins Financial Corp increased its position in Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after buying an additional 25 shares during the period. Essex Savings Bank grew its stake in shares of Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after acquiring an additional 26 shares during the last quarter. Valley National Advisers Inc. increased its position in Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after acquiring an additional 27 shares during the period. Bleakley Financial Group LLC increased its position in Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after acquiring an additional 27 shares during the period. Finally, Simplicity Solutions LLC raised its stake in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock traded up $7.58 during trading hours on Monday, hitting $400.91. 847,074 shares of the stock were exchanged, compared to its average volume of 1,465,234. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The stock has a market capitalization of $111.60 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.48 and a beta of 1.04. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The business’s 50-day moving average is $388.66 and its two-hundred day moving average is $383.65.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. The business 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%. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.55 EPS. Equities research analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DE shares. Stifel Nicolaus dropped their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Citigroup cut their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Evercore ISI boosted their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, 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. 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.