Ledyard National Bank Boosts Holdings in Deere & Company (NYSE:DE)

Ledyard National Bank increased its stake in Deere & Company (NYSE:DE) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,231 shares of the industrial products company’s stock after buying an additional 39 shares during the period. Ledyard National Bank’s holdings in Deere & Company were worth $514,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DE. Fairscale Capital LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $26,000. Pineridge Advisors LLC boosted its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter valued at about $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR raised its holdings in shares of Deere & Company by 420.0% in the 2nd 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 currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $406.65 on Wednesday. The company has a market cap of $112.06 billion, a PE ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The firm has a 50-day simple moving average of $395.40 and a 200 day simple moving average of $385.21. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the business posted $10.20 EPS. On average, sell-side analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s dividend payout ratio is presently 17.70%.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. Bank of America increased their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Raymond James initiated coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Finally, BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company 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.