Blue Trust Inc. Has $1.93 Million Holdings in Deere & Company $DE

Blue Trust Inc. raised its position in shares of Deere & Company (NYSE:DE) by 2.6% in the second quarter, HoldingsChannel.com reports. The firm owned 3,797 shares of the industrial products company’s stock after purchasing an additional 95 shares during the quarter. Blue Trust Inc.’s holdings in Deere & Company were worth $1,931,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vivid Wealth Management LLC grew its position in shares of Deere & Company by 1.9% during the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after buying an additional 20 shares during the period. M. Kraus & Co acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $202,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $51,000. Ramirez Asset Management Inc. acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $51,000. Finally, Callan Family Office LLC grew its position in shares of Deere & Company by 177.8% during the 2nd quarter. Callan Family Office LLC now owns 5,701 shares of the industrial products company’s stock worth $2,899,000 after buying an additional 3,649 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $446.76 on Friday. The company has a fifty day simple moving average of $479.15 and a 200 day simple moving average of $488.35. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market cap of $120.77 billion, a P/E ratio of 23.35, a PEG ratio of 2.94 and a beta of 1.02.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the business earned $6.29 EPS. The business’s revenue was down 9.0% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.5%. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DE shares. Robert W. Baird reduced their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research report on Tuesday, August 19th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Truist Financial lifted their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Daiwa Capital Markets reduced their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $513.88.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.