New Hampshire Trust Cuts Stock Position in Deere & Company (NYSE:DE)

New Hampshire Trust lowered its stake in Deere & Company (NYSE:DE) by 7.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,405 shares of the industrial products company’s stock after selling 282 shares during the quarter. New Hampshire Trust’s holdings in Deere & Company were worth $1,598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Strategic Wealth Investment Group LLC purchased a new position in Deere & Company during the fourth quarter valued at $148,359,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter valued at $35,000. Calton & Associates Inc. boosted its holdings in shares of Deere & Company by 25.5% during the 4th quarter. Calton & Associates Inc. now owns 812 shares of the industrial products company’s stock valued at $344,000 after buying an additional 165 shares in the last quarter. Finally, Institute for Wealth Management LLC. grew its position in shares of Deere & Company by 1.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 4,813 shares of the industrial products company’s stock worth $2,039,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $505.77 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The business’s 50-day moving average is $475.54 and its 200 day moving average is $462.00. The company has a market capitalization of $137.27 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business’s revenue was down 17.9% on a year-over-year basis. During the same period last year, the company posted $8.53 EPS. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James lifted their price target on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Bank of America upped their price objective on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. UBS Group decreased their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Morgan Stanley lifted 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. Finally, Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $515.19.

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.