BankPlus Trust Department Has $1.42 Million Holdings in Deere & Company $DE

BankPlus Trust Department raised its position in Deere & Company (NYSE:DE) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,794 shares of the industrial products company’s stock after buying an additional 51 shares during the period. BankPlus Trust Department’s holdings in Deere & Company were worth $1,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Activest Wealth Management boosted its position in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the first quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company during the second quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the second quarter worth approximately $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.8%

Shares of NYSE:DE opened at $461.08 on Wednesday. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a market capitalization of $124.64 billion, a PE ratio of 24.10, a PEG ratio of 2.94 and a beta of 1.02. The company has a 50 day moving average price of $482.54 and a two-hundred day moving average price of $488.94.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is currently 33.87%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DE shares. Robert W. Baird reduced their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Saturday, September 27th. Evercore ISI set a $491.00 target price 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 note on Saturday. Finally, Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

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.