Bank of Stockton Has $969,000 Stock Holdings in Deere & Company (NYSE:DE)

Bank of Stockton lifted its stake in Deere & Company (NYSE:DE) by 20.3% in the first quarter, HoldingsChannel reports. The firm owned 2,065 shares of the industrial products company’s stock after purchasing an additional 349 shares during the period. Bank of Stockton’s holdings in Deere & Company were worth $969,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MFG Wealth Management Inc. acquired a new stake in Deere & Company during the 1st quarter valued at $1,344,000. DLK Investment Management LLC boosted its position in shares of Deere & Company by 2.2% in the first quarter. DLK Investment Management LLC now owns 8,391 shares of the industrial products company’s stock worth $3,938,000 after buying an additional 179 shares during the period. Penobscot Investment Management Company Inc. grew its holdings in shares of Deere & Company by 0.4% during the first quarter. Penobscot Investment Management Company Inc. now owns 13,170 shares of the industrial products company’s stock valued at $6,181,000 after buying an additional 55 shares in the last quarter. Western Wealth Management LLC raised its position in Deere & Company by 25.3% during the first quarter. Western Wealth Management LLC now owns 1,111 shares of the industrial products company’s stock valued at $521,000 after buying an additional 224 shares during the period. Finally, Value Partners Investments Inc. lifted its stake in Deere & Company by 51.4% in the 1st quarter. Value Partners Investments Inc. now owns 1,341 shares of the industrial products company’s stock worth $630,000 after acquiring an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of a number of research reports. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. UBS Group lowered their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley increased their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Trading Down 1.4%

NYSE:DE opened at $506.87 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average is $498.19 and its 200-day moving average is $471.85. The firm has a market cap of $137.28 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 3.26 and a beta of 1.09. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.53 EPS. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.28%. Deere & Company’s payout ratio is 31.35%.

Deere & Company Company Profile

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.