Deere & Company (NYSE:DE) Stock Holdings Lessened by FineMark National Bank & Trust

FineMark National Bank & Trust trimmed its stake in Deere & Company (NYSE:DE) by 1.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 31,450 shares of the industrial products company’s stock after selling 590 shares during the quarter. FineMark National Bank & Trust’s holdings in Deere & Company were worth $12,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. US Bancorp DE raised its position in Deere & Company by 3.0% during the fourth quarter. US Bancorp DE now owns 285,765 shares of the industrial products company’s stock valued at $114,269,000 after acquiring an additional 8,405 shares in the last quarter. BlackDiamond Wealth Management LLC raised its position in Deere & Company by 5.3% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 1,483 shares of the industrial products company’s stock valued at $572,000 after acquiring an additional 75 shares in the last quarter. Enterprise Financial Services Corp raised its position in Deere & Company by 5.3% during the fourth quarter. Enterprise Financial Services Corp now owns 2,971 shares of the industrial products company’s stock valued at $1,188,000 after acquiring an additional 150 shares in the last quarter. Richwood Investment Advisors LLC raised its position in Deere & Company by 43.0% during the fourth quarter. Richwood Investment Advisors LLC now owns 1,637 shares of the industrial products company’s stock valued at $655,000 after acquiring an additional 492 shares in the last quarter. Finally, Alpha Family Trust raised its position in Deere & Company by 19.8% during the fourth quarter. Alpha Family Trust now owns 635 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DE shares. Citigroup dropped their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Oppenheimer reissued an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Wells Fargo & Company lowered their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Finally, Morgan Stanley raised their price objective on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $432.92.

Deere & Company Stock Down 1.5 %

Shares of DE traded down $5.74 on Thursday, hitting $380.27. The company’s stock had a trading volume of 1,274,782 shares, compared to its average volume of 1,469,832. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm’s fifty day moving average price is $399.95 and its 200-day moving average price is $386.47. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The firm has a market capitalization of $105.85 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 1.53 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same period in the previous year, the firm earned $9.65 EPS. Deere & Company’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 26.03 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.