New Covenant Trust Company N.A. Sells 29 Shares of Deere & Company (NYSE:DE)

New Covenant Trust Company N.A. lessened its stake in Deere & Company (NYSE:DE) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 802 shares of the industrial products company’s stock after selling 29 shares during the period. New Covenant Trust Company N.A.’s holdings in Deere & Company were worth $373,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Bancorp Inc ME lifted its holdings in shares of Deere & Company by 4.7% in the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 23 shares during the last quarter. World Equity Group Inc. grew its stake in shares of Deere & Company by 4.5% during the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company’s stock valued at $244,000 after buying an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in shares of Deere & Company by 2.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 25 shares during the last quarter. Glen Eagle Advisors LLC boosted its holdings in Deere & Company by 0.9% during the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock valued at $1,244,000 after acquiring an additional 25 shares during the period. Finally, Elwood & Goetz Wealth Advisory Group LLC grew its position in Deere & Company by 2.4% during the 1st quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,058 shares of the industrial products company’s stock worth $497,000 after acquiring an additional 25 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.4%

Shares of Deere & Company stock opened at $513.86 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm’s 50 day simple moving average is $496.05 and its two-hundred day simple moving average is $471.31. The firm has a market capitalization of $139.17 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.31 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 issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the company earned $8.53 EPS. Deere & Company’s quarterly revenue was down 17.9% on a year-over-year basis. Analysts predict 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 issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DE. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Raymond James Financial upped their price target on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Oppenheimer raised their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. BMO Capital Markets restated a “market perform” rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $515.19.

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.